Plains All American Pipeline (NASDAQ:PAA) Rating Increased to Strong-Buy at Truist Financial

Plains All American Pipeline (NASDAQ:PAA) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other analysts have also recently commented on the company. Morgan Stanley lifted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. Zacks Research lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Wall Street Zen downgraded shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. Finally, Royal Bank Of Canada upped their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.85.

Plains All American Pipeline Stock Up 2.0%

PAA stock opened at $22.22 on Monday. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $22.42. The business’s fifty day simple moving average is $20.42. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $15.68 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results 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%. During the same period last year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was down 12.2% on a year-over-year basis.

Institutional Trading of Plains All American Pipeline

A number of institutional investors and hedge funds have recently bought and sold shares of PAA. World Investment Advisors raised its holdings in Plains All American Pipeline by 7.2% in the fourth quarter. World Investment Advisors now owns 21,542 shares of the company’s stock valued at $387,000 after buying an additional 1,442 shares during the period. Virtu Financial LLC lifted its position in Plains All American Pipeline by 222.8% during the fourth quarter. Virtu Financial LLC now owns 71,679 shares of the company’s stock valued at $1,287,000 after buying an additional 49,477 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Plains All American Pipeline by 8.3% during the fourth quarter. Sunbelt Securities Inc. now owns 33,569 shares of the company’s stock worth $603,000 after buying an additional 2,563 shares during the period. Claris Financial LLC purchased a new stake in Plains All American Pipeline during the fourth quarter worth approximately $280,000. Finally, Invesco Ltd. increased its position in shares of Plains All American Pipeline by 0.7% in the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock worth $601,818,000 after acquiring an additional 228,106 shares in the last quarter. Institutional investors and hedge funds 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.