Plains All American Pipeline (NYSE:PAA) PT Raised to $14.00

Plains All American Pipeline (NYSE:PAA) had its target price hoisted by investment analysts at Mizuho from $13.00 to $14.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the pipeline company’s stock. Mizuho’s price objective would indicate a potential upside of 15.61% from the stock’s current price.

Several other analysts have also recently commented on PAA. TD Securities decreased their price objective on shares of Plains All American Pipeline from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, May 5th. Barclays decreased their price objective on shares of Plains All American Pipeline from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, March 19th. Raymond James decreased their target price on shares of Plains All American Pipeline from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 10th. Wolfe Research reiterated a “peer perform” rating and issued a $10.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, March 17th. Finally, Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Plains All American Pipeline has an average rating of “Buy” and a consensus price target of $23.41.

Shares of NYSE PAA opened at $12.11 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.84 and a current ratio of 0.95. Plains All American Pipeline has a 12 month low of $5.26 and a 12 month high of $12.25. The company’s 50 day simple moving average is $9.91. The firm has a market cap of $8.74 billion, a PE ratio of 18.35 and a beta of 2.31.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Monday, May 3rd. The pipeline company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Plains All American Pipeline had a net margin of 2.69% and a return on equity of 14.62%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $6.86 billion. During the same period in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts forecast that Plains All American Pipeline will post 1.22 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of PAA. California Public Employees Retirement System increased its holdings in Plains All American Pipeline by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 923,757 shares of the pipeline company’s stock worth $7,612,000 after acquiring an additional 30,161 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Plains All American Pipeline by 3.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 104,400 shares of the pipeline company’s stock worth $860,000 after acquiring an additional 3,700 shares in the last quarter. Ieq Capital LLC increased its holdings in Plains All American Pipeline by 36.9% in the 4th quarter. Ieq Capital LLC now owns 31,285 shares of the pipeline company’s stock worth $258,000 after acquiring an additional 8,440 shares in the last quarter. Institutional & Family Asset Management LLC increased its holdings in Plains All American Pipeline by 7.6% in the 4th quarter. Institutional & Family Asset Management LLC now owns 341,359 shares of the pipeline company’s stock worth $2,813,000 after acquiring an additional 23,976 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Plains All American Pipeline by 15.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,377 shares of the pipeline company’s stock worth $143,000 after acquiring an additional 2,270 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Plains All American Pipeline Company Profile

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 through three segments: Transportation, Facilities, and Supply and Logistics.

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