Wall Street Zen Upgrades Plains All American Pipeline (NASDAQ:PAA) to Buy

Plains All American Pipeline (NASDAQ:PAA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the company. Citigroup lifted their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Weiss Ratings cut Plains All American Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their target price for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. Finally, UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus target price of $23.23.

Plains All American Pipeline Stock Performance

NASDAQ:PAA opened at $23.90 on Friday. Plains All American Pipeline has a 52 week low of $15.69 and a 52 week high of $25.03. The firm has a 50 day moving average of $23.05 and a 200 day moving average of $22.11. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 8.27 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The business had revenue of $17.69 billion for the quarter. During the same quarter last year, the business posted $0.36 EPS. Plains All American Pipeline’s revenue was up 66.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Plains All American Pipeline will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in Plains All American Pipeline by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock valued at $635,000 after buying an additional 453 shares in the last quarter. Summit Financial LLC raised its stake 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 acquiring an additional 599 shares during the last quarter. Symphony Financial Services Inc. raised its stake in shares of Plains All American Pipeline by 1.4% in the fourth quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock valued at $943,000 after acquiring an additional 715 shares during the last quarter. Clear Trail Advisors LLC boosted its holdings in shares of Plains All American Pipeline by 1.5% in the 1st quarter. Clear Trail Advisors LLC now owns 57,047 shares of the company’s stock worth $1,274,000 after acquiring an additional 858 shares in the last quarter. Finally, Equitable Holdings Inc. grew its position in Plains All American Pipeline by 5.0% during the 3rd quarter. Equitable Holdings Inc. now owns 18,428 shares of the company’s stock worth $314,000 after acquiring an additional 875 shares during the last quarter. Hedge funds and other institutional investors 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.