Plains All American Pipeline (NYSE:PAA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Plains All American Pipeline (NYSE:PAA) had its price objective increased by stock analysts at Wells Fargo & Company from $20.00 to $21.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 9.91% from the company’s previous close.

Several other research firms also recently issued reports on PAA. Bank of America downgraded Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a research note on Wednesday, January 28th. Raymond James Financial reiterated a “strong-buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. Barclays restated an “underweight” rating and set a $18.00 target price (up previously from $17.00) on shares of Plains All American Pipeline in a report on Monday. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 23rd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Plains All American Pipeline in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.55.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $19.11 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a 52 week low of $15.57 and a 52 week high of $20.77. The company’s 50 day moving average price is $18.42 and its two-hundred day moving average price is $17.63. The company has a market capitalization of $13.48 billion, a P/E ratio of 26.17 and a beta of 0.60.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. On average, analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stephens Inc. AR grew its stake in shares of Plains All American Pipeline by 19.5% in the second quarter. Stephens Inc. AR now owns 111,785 shares of the pipeline company’s stock valued at $2,048,000 after acquiring an additional 18,247 shares in the last quarter. Inspire Investing LLC bought a new stake in Plains All American Pipeline in the 3rd quarter valued at about $1,045,000. Bollard Group LLC grew its position in shares of Plains All American Pipeline by 13.2% during the 2nd quarter. Bollard Group LLC now owns 1,131,158 shares of the pipeline company’s stock worth $20,723,000 after purchasing an additional 132,008 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Plains All American Pipeline by 16.7% during the second quarter. Advisors Asset Management Inc. now owns 323,590 shares of the pipeline company’s stock worth $5,928,000 after purchasing an additional 46,406 shares during the period. Finally, PFG Investments LLC raised its position in shares of Plains All American Pipeline by 91.8% in the third quarter. PFG Investments LLC now owns 130,443 shares of the pipeline company’s stock valued at $2,225,000 after buying an additional 62,446 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.