Plains All American Pipeline, L.P. (NYSE:PAA) Given a $25.00 Price Target at BMO Capital Markets

Plains All American Pipeline, L.P. (NYSE:PAA) has been given a $25.00 price objective by analysts at BMO Capital Markets in a research note issued on Tuesday, October 17th. The firm presently has a “buy” rating on the pipeline company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 21.42% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Scotiabank set a $36.00 price target on Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research report on Saturday, July 22nd. Mizuho raised Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, July 10th. Raymond James Financial, Inc. set a $24.00 price target on Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research report on Wednesday, August 9th. Barclays PLC reissued a “buy” rating and set a $28.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Wednesday, August 9th. Finally, Citigroup Inc. reissued a “buy” rating and set a $28.00 price objective (down previously from $33.50) on shares of Plains All American Pipeline, L.P. in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.60.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) traded up $0.35 during trading hours on Tuesday, reaching $20.59. The company’s stock had a trading volume of 1,305,436 shares, compared to its average volume of 2,640,899. The company has a market cap of $14,677.83, a P/E ratio of 19.84 and a beta of 1.01. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.94 and a quick ratio of 0.69. Plains All American Pipeline, L.P. has a 52-week low of $18.76 and a 52-week high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.43 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in shares of Plains All American Pipeline, L.P. by 91.1% in the 3rd quarter. CIBC Asset Management Inc now owns 24,517 shares of the pipeline company’s stock valued at $520,000 after purchasing an additional 11,685 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Plains All American Pipeline, L.P. by 620.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 232,425 shares of the pipeline company’s stock valued at $4,925,000 after purchasing an additional 200,174 shares during the period. Global X MANAGEMENT CO LLC raised its stake in Plains All American Pipeline, L.P. by 2.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 1,797,261 shares of the pipeline company’s stock valued at $38,084,000 after buying an additional 41,393 shares during the last quarter. Alps Advisors Inc. raised its stake in Plains All American Pipeline, L.P. by 10.9% during the third quarter. Alps Advisors Inc. now owns 33,958,970 shares of the pipeline company’s stock valued at $719,591,000 after buying an additional 3,346,596 shares during the last quarter. Finally, Cincinnati Insurance Co. raised its stake in Plains All American Pipeline, L.P. by 92.0% during the third quarter. Cincinnati Insurance Co. now owns 237,941 shares of the pipeline company’s stock valued at $5,042,000 after buying an additional 114,043 shares during the last quarter. Institutional investors own 41.46% of the company’s stock.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

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