Mizuho Forecasts Strong Price Appreciation for Plains All American Pipeline (NASDAQ:PAA) Stock

Plains All American Pipeline (NASDAQ:PAA) had its target price increased by analysts at Mizuho from $27.00 to $30.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 22.20% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. US Capital Advisors downgraded Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Barclays boosted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday. Citigroup upped their price objective on shares of Plains All American Pipeline from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. JPMorgan Chase & Co. increased their price target on Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Finally, The Goldman Sachs Group upgraded Plains All American Pipeline from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.43.

Plains All American Pipeline Stock Down 1.8%

NASDAQ PAA opened at $24.55 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $26.39. The company has a 50 day moving average of $24.66 and a 200-day moving average of $23.07. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 8.75 and a beta of 0.52.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The company had revenue of $17.69 billion for the quarter. During the same quarter in the prior year, the company earned $0.36 earnings per share. Plains All American Pipeline’s quarterly revenue was up 66.3% compared to the same quarter last year. On average, equities research analysts expect that Plains All American Pipeline will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $27,000. Allied Private Wealth LLC purchased a new position in Plains All American Pipeline during the second quarter valued at approximately $33,000. Bullseye Investment Management LLC bought a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $44,000. Scarborough Advisors LLC bought a new stake in Plains All American Pipeline during the 1st quarter worth approximately $80,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Plains All American Pipeline by 1,164.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock worth $85,000 after purchasing an additional 3,494 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.