Plains All American Pipeline (NYSE:PAA) PT Raised to $18.00

Plains All American Pipeline (NYSE:PAA) had its price target raised by research analysts at TD Securities from $17.00 to $18.00 in a research note issued on Monday, BayStreet.CA reports. The firm currently has a “hold” rating on the pipeline company’s stock. TD Securities’ price target suggests a potential upside of 2.92% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. UBS Group boosted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price for the company. StockNews.com cut Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial raised their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Moderate Buy” and an average price target of $19.08.

Plains All American Pipeline Stock Down 0.7 %

PAA stock opened at $17.49 on Monday. The stock has a fifty day moving average of $17.42 and a 200-day moving average of $16.18. Plains All American Pipeline has a fifty-two week low of $12.50 and a fifty-two week high of $19.03. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 15.08 and a beta of 1.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business earned $0.41 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Plains All American Pipeline will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $28,000. CENTRAL TRUST Co grew its position in Plains All American Pipeline by 212.5% in the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares in the last quarter. Fortitude Family Office LLC bought a new position in Plains All American Pipeline in the fourth quarter valued at $39,000. Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline during the fourth quarter valued at about $46,000. Finally, Briaud Financial Planning Inc bought a new stake in Plains All American Pipeline during the third quarter worth about $58,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.