JPMorgan Chase & Co. Issues Positive Forecast for Plains All American Pipeline (NASDAQ:PAA) Stock Price

Plains All American Pipeline (NASDAQ:PAA) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $24.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 5.80% from the stock’s previous close.

A number of other brokerages have also weighed in on PAA. US Capital Advisors lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Zacks Research upgraded Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Citigroup lifted their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.08.

Plains All American Pipeline Stock Performance

Shares of NASDAQ PAA traded down $0.20 during midday trading on Thursday, reaching $25.52. 3,160,373 shares of the company traded hands, compared to its average volume of 3,065,148. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 8.95 and a beta of 0.52. The stock has a 50-day moving average price of $23.83 and a 200 day moving average price of $22.60. Plains All American Pipeline has a 52 week low of $15.69 and a 52 week high of $25.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. 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

A number of large investors have recently added to or reduced their stakes in PAA. Invesco Ltd. increased its holdings 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 valued at $601,818,000 after buying an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Plains All American Pipeline by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after acquiring an additional 3,033,216 shares during the last quarter. Morgan Stanley raised its position in shares of Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after purchasing an additional 2,833,161 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Plains All American Pipeline by 2.9% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock worth $171,377,000 after purchasing an additional 265,555 shares during the period. Finally, BROOKFIELD Corp ON lifted its holdings in shares of Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

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.