Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $23.00 at Wells Fargo & Company

Plains All American Pipeline (NASDAQ:PAA) had its price objective upped by equities research analysts at Wells Fargo & Company from $22.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.59% from the stock’s current price.

Several other research firms also recently commented on PAA. Citigroup raised their target price on Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Finally, Royal Bank Of Canada lifted their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus price target of $22.15.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $21.99 on Tuesday. The firm has a fifty day simple moving average of $21.79. The firm has a market cap of $15.51 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.72 and a beta of 0.51. Plains All American Pipeline has a 52-week low of $15.69 and a 52-week high of $23.04. 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 (NASDAQ:PAA) last posted its earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.12%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, sell-side analysts predict that Plains All American Pipeline will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in PAA. D.A. Davidson & CO. lifted its position in shares of Plains All American Pipeline by 1.6% during the first quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock worth $635,000 after purchasing an additional 453 shares in the last quarter. Summit Financial LLC increased its holdings in shares of Plains All American Pipeline by 1.0% in the fourth quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock valued at $1,100,000 after purchasing an additional 599 shares in the last quarter. Exencial Wealth Advisors LLC raised its position in Plains All American Pipeline by 1.5% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the company’s stock worth $698,000 after purchasing an additional 601 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after buying an additional 655 shares in the last quarter. Finally, Symphony Financial Services Inc. boosted its position in Plains All American Pipeline by 1.4% in the 4th quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock valued at $943,000 after buying an additional 715 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.