Plains All American Pipeline (NYSE:PAA) PT Raised to $14.50

Plains All American Pipeline (NYSE:PAAGet Rating) had its price objective upped by analysts at TD Securities from $14.00 to $14.50 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the pipeline company’s stock. TD Securities’ price target would suggest a potential upside of 29.46% from the stock’s current price.

Several other research analysts also recently commented on the company. Credit Suisse Group raised Plains All American Pipeline from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $13.00 to $14.00 in a research note on Thursday, May 12th. Mizuho boosted their target price on Plains All American Pipeline from $13.00 to $14.00 in a research note on Wednesday, May 11th. Wolfe Research downgraded Plains All American Pipeline from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 1st. Bank of America raised Plains All American Pipeline from an “underperform” rating to a “neutral” rating and set a $12.00 target price for the company in a research note on Tuesday, July 19th. Finally, Barclays lowered their price objective on Plains All American Pipeline from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.18.

Plains All American Pipeline Trading Up 1.7 %

PAA opened at $11.20 on Thursday. Plains All American Pipeline has a twelve month low of $8.64 and a twelve month high of $12.10. The company has a 50-day simple moving average of $10.60 and a 200 day simple moving average of $10.75. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 13.66 and a beta of 1.79.

Plains All American Pipeline (NYSE:PAAGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a net margin of 1.36% and a return on equity of 9.77%. During the same quarter in the previous year, the business earned $0.23 earnings per share. Analysts predict that Plains All American Pipeline will post 1.1 EPS for the current fiscal year.

Insider Activity at Plains All American Pipeline

In related news, Director Kevin S. Mccarthy bought 200,000 shares of Plains All American Pipeline stock in a transaction that occurred on Thursday, June 23rd. The shares were acquired at an average cost of $9.81 per share, for a total transaction of $1,962,000.00. Following the completion of the acquisition, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $1,962,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. boosted its holdings in shares of Plains All American Pipeline by 1.7% during the 4th quarter. Alps Advisors Inc. now owns 52,505,872 shares of the pipeline company’s stock worth $490,405,000 after buying an additional 880,660 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Plains All American Pipeline by 38.9% during the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after buying an additional 4,880,244 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Plains All American Pipeline by 5.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 9,803,725 shares of the pipeline company’s stock worth $91,566,000 after buying an additional 467,834 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Plains All American Pipeline by 5.7% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 9,079,150 shares of the pipeline company’s stock worth $89,157,000 after purchasing an additional 492,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Plains All American Pipeline by 21.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,563,414 shares of the pipeline company’s stock worth $84,093,000 after purchasing an additional 1,520,490 shares in the last quarter. 45.58% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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