Royal Bank Of Canada Forecasts Strong Price Appreciation for Plains All American Pipeline (NYSE:PAA) Stock

Plains All American Pipeline (NYSE:PAA) had its price objective raised by analysts at Royal Bank Of Canada from $20.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 2.91% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. Barclays upped their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Finally, Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.18.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA traded up $0.26 during midday trading on Tuesday, reaching $20.41. The company had a trading volume of 1,303,133 shares, compared to its average volume of 3,869,830. The stock has a market cap of $14.40 billion, a P/E ratio of 27.96 and a beta of 0.60. The company’s 50 day moving average price is $18.68 and its 200 day moving average price is $17.67. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $20.77.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.Plains All American Pipeline’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, sell-side analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PAA. Mather Group LLC. purchased a new position in shares of Plains All American Pipeline in the third quarter worth $33,000. Caldwell Trust Co purchased a new position in shares of Plains All American Pipeline in the third quarter valued at about $38,000. Newbridge Financial Services Group Inc. raised its stake in shares of Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 655 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $42,000. Finally, Global Retirement Partners LLC grew its stake in shares of Plains All American Pipeline by 468.7% in the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,128 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.