Stifel Nicolaus Raises Plains All American Pipeline (NYSE:PAA) Price Target to $22.00

Plains All American Pipeline (NYSE:PAA) had its target price increased by research analysts at Stifel Nicolaus from $18.00 to $22.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 26.73% from the company’s current price.

A number of other brokerages also recently commented on PAA. Citigroup boosted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Scotiabank assumed coverage on Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target for the company. UBS Group upped their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Truist Financial upped their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group upped their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA opened at $17.36 on Tuesday. The business’s 50-day moving average price is $16.95 and its two-hundred day moving average price is $15.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03. The company has a market capitalization of $12.17 billion, a P/E ratio of 12.49 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Plains All American Pipeline will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently made changes to their positions in PAA. Capital Advisors Inc. OK acquired a new position in Plains All American Pipeline in the 4th quarter valued at approximately $4,234,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Plains All American Pipeline by 9.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after acquiring an additional 1,135,737 shares in the last quarter. ING Groep NV raised its holdings in Plains All American Pipeline by 12.2% in the 3rd quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after acquiring an additional 332,000 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Plains All American Pipeline in the 4th quarter valued at approximately $182,000. Finally, Envestnet Asset Management Inc. raised its holdings in Plains All American Pipeline by 374.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after acquiring an additional 181,484 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.