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

Plains All American Pipeline (NYSE:PAA) had its target price lifted by UBS Group from $21.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. UBS Group’s price target suggests a potential upside of 18.66% from the company’s previous close.

A number of other analysts also recently commented on the company. Wells Fargo & Company boosted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada boosted their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Citigroup boosted their price objective on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, TD Securities lifted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded up $0.51 during mid-day trading on Tuesday, hitting $18.54. 2,503,084 shares of the company’s stock traded hands, compared to its average volume of 3,021,982. The firm has a 50 day moving average price of $17.28 and a 200 day moving average price of $16.65. 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 company has a market cap of $13.00 billion, a PE ratio of 15.92 and a beta of 1.61. Plains All American Pipeline has a one year low of $13.88 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Plains All American Pipeline will post 1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAA. Envestnet Asset Management Inc. grew its holdings in shares of Plains All American Pipeline by 374.7% during the third quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after buying an additional 181,484 shares in the last quarter. LPL Financial LLC grew its stake in Plains All American Pipeline by 19.0% in the third quarter. LPL Financial LLC now owns 277,783 shares of the pipeline company’s stock valued at $4,256,000 after purchasing an additional 44,441 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Plains All American Pipeline by 15.6% in the third quarter. Tower Research Capital LLC TRC now owns 24,178 shares of the pipeline company’s stock valued at $370,000 after purchasing an additional 3,255 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in Plains All American Pipeline in the third quarter valued at about $517,000. Finally, Crestwood Advisors Group LLC purchased a new position in Plains All American Pipeline in the third quarter valued at about $189,000. Hedge funds and other 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.