Plains All American Pipeline (NYSE:PAA) PT Raised to $22.00

Plains All American Pipeline (NYSE:PAA) had its price objective boosted by UBS Group from $21.00 to $22.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

A number of other equities analysts have also recently issued reports on PAA. Truist Financial upped their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Scotiabank assumed coverage on Plains All American Pipeline in a report on Monday, April 8th. They issued a sector outperform rating and a $23.00 price objective for the company. The Goldman Sachs Group upped their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a report on Friday, April 12th. Royal Bank of Canada upped their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a sector perform rating in a report on Tuesday, May 14th. Finally, Stifel Nicolaus upped their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.38.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $18.50 on Tuesday. Plains All American Pipeline has a 52 week low of $13.88 and a 52 week high of $19.03. The business has a 50-day simple moving average of $17.33 and a 200 day simple moving average of $16.73. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 15.95 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, research analysts forecast that Plains All American Pipeline will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Institutional & Family Asset Management LLC raised its position in Plains All American Pipeline by 1.1% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 568,257 shares of the pipeline company’s stock valued at $10,149,000 after purchasing an additional 6,199 shares during the last quarter. Walnut Private Equity Partners LLC raised its position in Plains All American Pipeline by 2.5% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 410,000 shares of the pipeline company’s stock valued at $7,323,000 after purchasing an additional 10,000 shares during the last quarter. NBW Capital LLC raised its position in Plains All American Pipeline by 1.0% during the 1st quarter. NBW Capital LLC now owns 526,843 shares of the pipeline company’s stock valued at $9,251,000 after purchasing an additional 5,096 shares during the last quarter. Cetera Advisors LLC raised its position in Plains All American Pipeline by 25.8% during the 1st quarter. Cetera Advisors LLC now owns 31,870 shares of the pipeline company’s stock valued at $560,000 after purchasing an additional 6,546 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Plains All American Pipeline during the 1st quarter valued at approximately $2,763,000. 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.