Plains All American Pipeline (NASDAQ:PAA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Plains All American Pipeline (NASDAQ:PAA) had its price objective lifted by stock analysts at Wells Fargo & Company from $21.00 to $22.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 3.55% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, January 28th. Zacks Research cut shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Barclays raised their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Finally, Citigroup upped their price objective on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.58.

Plains All American Pipeline Stock Up 0.2%

Shares of PAA traded up $0.04 during mid-day trading on Friday, reaching $21.25. The company had a trading volume of 483,225 shares, compared to its average volume of 3,751,426. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $22.29. 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 $14.99 billion, a PE ratio of 12.80, a P/E/G ratio of 3.42 and a beta of 0.59. The company has a 50 day moving average price of $19.90.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share 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%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in Plains All American Pipeline during the third quarter worth $33,000. Caldwell Trust Co acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at about $38,000. Newbridge Financial Services Group Inc. increased its stake in shares of Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after purchasing an additional 655 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $42,000. Finally, Global Retirement Partners LLC raised its position in shares of Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock worth $44,000 after purchasing an additional 2,128 shares during the last quarter. Hedge funds and other institutional investors 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.