Plains All American Pipeline (NASDAQ:PAA) Stock Rating Upgraded by Zacks Research

Plains All American Pipeline (NASDAQ:PAA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

PAA has been the subject of a number of other reports. Raymond James Financial reiterated a “strong-buy” rating and set a $28.00 price target on shares of Plains All American Pipeline in a report on Monday, October 19th. Scotiabank reissued an “outperform” rating and set a $28.00 price objective on shares of Plains All American Pipeline in a research note on Thursday, October 15th. Wall Street Zen cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Jefferies Financial Group boosted their price target on Plains All American Pipeline from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. Finally, Morgan Stanley increased their price target on Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.07.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $25.85 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a fifty day moving average of $25.27 and a two-hundred day moving average of $22.86. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 9.09 and a beta of 0.58. Plains All American Pipeline has a fifty-two week low of $16.00 and a fifty-two week high of $26.98.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The company had revenue of $17.69 billion during the quarter. During the same period last year, the business posted $0.36 earnings per share. The firm’s revenue was up 66.3% on a year-over-year basis. On average, analysts anticipate that Plains All American Pipeline will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently made changes to their positions in the stock. Arrow Investment Advisors LLC boosted its position in Plains All American Pipeline by 16.6% during the 3rd quarter. Arrow Investment Advisors LLC now owns 11,217 shares of the company’s stock worth $266,000 after purchasing an additional 1,599 shares during the period. Kestra Advisory Services LLC increased its holdings in Plains All American Pipeline by 3.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 154,349 shares of the company’s stock valued at $3,661,000 after purchasing an additional 4,976 shares in the last quarter. Choreo LLC raised its position in Plains All American Pipeline by 85.5% in the third quarter. Choreo LLC now owns 18,912 shares of the company’s stock valued at $449,000 after purchasing an additional 8,719 shares during the period. MADDEN SECURITIES Corp purchased a new position in Plains All American Pipeline in the third quarter valued at about $52,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Plains All American Pipeline during the third quarter worth about $293,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.