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

Plains All American Pipeline (NYSE:PAA) had its price target boosted by investment analysts at TD Securities from $17.00 to $18.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the pipeline company’s stock. TD Securities’ price objective would suggest a potential upside of 3.39% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Scotiabank began coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup increased their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, StockNews.com cut Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of “Moderate Buy” and an average target price of $19.08.

Plains All American Pipeline Stock Down 0.5 %

PAA stock traded down $0.08 during trading on Monday, reaching $17.41. The stock had a trading volume of 1,821,021 shares, compared to its average volume of 3,436,524. Plains All American Pipeline has a one year low of $12.50 and a one year high of $19.03. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $17.37 and its two-hundred day moving average is $16.15. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 14.97 and a beta of 1.58.

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

Institutional Investors Weigh In On Plains All American Pipeline

Several institutional investors have recently bought and sold shares of the stock. Blackstone Inc. lifted its holdings in Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock worth $371,771,000 after buying an additional 13,787,485 shares during the period. Alps Advisors Inc. lifted its holdings in Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after buying an additional 8,406,683 shares during the period. UBS Group AG lifted its holdings in Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock worth $129,630,000 after buying an additional 4,035,328 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Plains All American Pipeline by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,772,559 shares of the pipeline company’s stock worth $180,356,000 after buying an additional 1,197,006 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Plains All American Pipeline by 69.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after buying an additional 747,852 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.