Plains All American Pipeline (NASDAQ:PAA) Coverage Initiated by Analysts at Truist Financial

Investment analysts at Truist Financial initiated coverage on shares of Plains All American Pipeline (NASDAQ:PAA) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $23.00 price target on the stock. Truist Financial’s price target would indicate a potential upside of 2.75% from the stock’s previous close.

A number of other equities research analysts have also recently commented on PAA. Citigroup increased their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Stifel Nicolaus upped their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Wells Fargo & Company increased their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Morgan Stanley raised their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Finally, Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $21.85.

Plains All American Pipeline Stock Performance

Shares of NASDAQ:PAA traded up $0.61 during trading on Tuesday, reaching $22.39. The stock had a trading volume of 896,762 shares, compared to its average volume of 3,820,354. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. Plains All American Pipeline has a 1-year low of $15.57 and a 1-year high of $22.41. The company has a market cap of $15.79 billion, a PE ratio of 13.50, a PEG ratio of 3.39 and a beta of 0.58. The stock has a fifty day moving average of $20.35.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bollard Group LLC grew its position in Plains All American Pipeline by 13.2% in the 2nd quarter. Bollard Group LLC now owns 1,131,158 shares of the company’s stock valued at $20,723,000 after acquiring an additional 132,008 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Plains All American Pipeline by 17.8% in the third quarter. Citigroup Inc. now owns 535,200 shares of the company’s stock valued at $9,131,000 after purchasing an additional 80,788 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock valued at $122,814,000 after purchasing an additional 967,059 shares in the last quarter. Inspire Investing LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $1,045,000. Finally, Texas Yale Capital Corp. increased its stake in Plains All American Pipeline by 10.4% during the 3rd quarter. Texas Yale Capital Corp. now owns 637,343 shares of the company’s stock worth $10,873,000 after buying an additional 60,000 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.