Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00

Plains All American Pipeline (NYSE:PAA) had its price target hoisted by research analysts at TD Securities from $17.00 to $18.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the pipeline company’s stock. TD Securities’ target price indicates a potential upside of 3.39% from the company’s previous close.

Several other analysts have also recently commented on PAA. Stifel Nicolaus raised their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup increased their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. StockNews.com lowered Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday. Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.08.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock traded down $0.08 on Monday, reaching $17.41. 1,821,021 shares of the company were exchanged, compared to its average volume of 3,436,524. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 14.97 and a beta of 1.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The company’s 50-day moving average is $17.37 and its two-hundred day moving average is $16.15. Plains All American Pipeline has a 1-year low of $12.50 and a 1-year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. As a group, research analysts expect that Plains All American Pipeline will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently made changes to their positions in PAA. Oxbow Advisors LLC grew its position in Plains All American Pipeline by 4.6% during the first quarter. Oxbow Advisors LLC now owns 115,933 shares of the pipeline company’s stock worth $2,036,000 after buying an additional 5,115 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Plains All American Pipeline during the first quarter worth about $88,000. BNP Paribas Financial Markets grew its position in Plains All American Pipeline by 69.4% during the first quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after buying an additional 747,852 shares in the last quarter. Norden Group LLC acquired a new stake in Plains All American Pipeline during the first quarter worth about $338,000. Finally, SpiderRock Advisors LLC acquired a new stake in Plains All American Pipeline during the first quarter worth about $282,000. 41.78% of the stock is owned by institutional investors and hedge funds.

About Plains All American Pipeline

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.