Zacks Research Upgrades Plains All American Pipeline (NASDAQ:PAA) to Strong-Buy

Plains All American Pipeline (NASDAQ:PAA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Royal Bank Of Canada boosted their target price on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. upped their price target on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Morgan Stanley increased their price target on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Scotiabank reissued an “outperform” rating and issued a $28.00 price objective on shares of Plains All American Pipeline in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Plains All American Pipeline Stock Performance

PAA opened at $25.85 on Monday. The business has a 50 day moving average of $25.27 and a 200-day moving average of $22.86. Plains All American Pipeline has a 12-month low of $16.00 and a 12-month high of $26.98. The stock has a market cap of $18.24 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 9.09 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). The company had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. Plains All American Pipeline’s revenue was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities research analysts expect that Plains All American Pipeline will post 1.73 earnings per share for the current year.

Institutional Trading of Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in the stock. BROOKFIELD Corp ON grew its stake in shares of Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock worth $82,430,000 after buying an additional 2,992,549 shares during the last quarter. Infrastructure Capital Advisors LLC increased its holdings in shares of Plains All American Pipeline by 4.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company’s stock worth $69,000,000 after buying an additional 130,164 shares in the last quarter. Bollard Group LLC lifted its stake in shares of Plains All American Pipeline by 7.7% in the 1st quarter. Bollard Group LLC now owns 1,215,856 shares of the company’s stock valued at $27,150,000 after acquiring an additional 86,602 shares during the last quarter. NEOS Investment Management LLC boosted its holdings in shares of Plains All American Pipeline by 34.6% during the 2nd quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock valued at $17,250,000 after acquiring an additional 199,296 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $16,819,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.