Truist Financial Issues Positive Forecast for Plains All American Pipeline (NASDAQ:PAA) Stock Price

Plains All American Pipeline (NASDAQ:PAA) had its price target hoisted by equities researchers at Truist Financial from $23.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 5.84% from the stock’s current price.

Several other equities analysts have also issued reports on PAA. Scotiabank lifted their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Morgan Stanley raised their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Zacks Research lowered Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.92.

Plains All American Pipeline Stock Up 0.3%

Shares of NASDAQ PAA opened at $23.62 on Wednesday. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $24.26. The stock’s fifty day simple moving average is $22.54 and its two-hundred day simple moving average is $21.24. The stock has a market capitalization of $16.66 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 10.79 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. As a group, analysts expect that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new stake in Plains All American Pipeline during the 1st quarter worth about $27,000. Allied Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline in the second quarter worth about $33,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after buying an additional 655 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in Plains All American Pipeline during the fourth quarter worth about $42,000. Finally, Fulcrum Asset Management LLP acquired a new stake in Plains All American Pipeline during the third quarter worth about $50,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.