Plains All American Pipeline (NASDAQ:PAA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Plains All American Pipeline (NASDAQ:PAA) had its target price raised by analysts at Morgan Stanley from $21.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 7.25% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Bank of America lowered shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Mizuho set a $23.00 price objective on Plains All American Pipeline in a research report on Friday, January 23rd. Barclays increased their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Plains All American Pipeline in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.75.

Plains All American Pipeline Stock Down 0.7%

NASDAQ PAA traded down $0.15 during trading on Wednesday, hitting $21.45. The stock had a trading volume of 488,001 shares, compared to its average volume of 3,729,963. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market capitalization of $15.13 billion, a P/E ratio of 12.92, a PEG ratio of 3.38 and a beta of 0.59. The business’s 50 day moving average is $20.09. Plains All American Pipeline has a twelve month low of $15.57 and a twelve month high of $22.29.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same quarter last year, the firm posted $0.42 EPS. The firm’s quarterly revenue was down 12.2% on a year-over-year basis.

Institutional Trading of Plains All American Pipeline

Institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. boosted its holdings in shares of Plains All American Pipeline by 2.2% in the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock valued at $1,297,700,000 after acquiring an additional 1,663,908 shares during the period. Invesco Ltd. raised its position in Plains All American Pipeline by 0.7% in the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after purchasing an additional 228,106 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the period. Morgan Stanley grew its position in Plains All American Pipeline by 40.2% during the 4th 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 last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its stake in Plains All American Pipeline by 2.9% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock valued at $171,377,000 after purchasing an additional 265,555 shares during the period. 41.78% of the stock is owned by hedge funds and other 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.