Plains All American Pipeline (NYSE:PAA) Price Target Raised to $22.00

Plains All American Pipeline (NYSE:PAA) had its price objective hoisted by equities research analysts at UBS Group from $21.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. UBS Group’s target price would indicate a potential upside of 24.15% from the company’s previous close.

Several other brokerages also recently issued reports on PAA. Scotiabank assumed coverage on shares of Plains All American Pipeline in a research report on Monday. They set a “sector outperform” rating and a $23.00 price objective for the company. StockNews.com raised shares of Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Citigroup increased their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Truist Financial increased their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.68.

Plains All American Pipeline Trading Down 1.4 %

Shares of NYSE:PAA traded down $0.26 during mid-day trading on Friday, reaching $17.72. The stock had a trading volume of 3,591,416 shares, compared to its average volume of 3,259,214. The firm has a market cap of $12.42 billion, a PE ratio of 12.75 and a beta of 1.59. The firm has a 50 day simple moving average of $16.77 and a two-hundred day simple moving average of $15.86. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a twelve month low of $12.07 and a twelve month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts predict that Plains All American Pipeline will post 1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Plains All American Pipeline by 9.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after acquiring an additional 1,135,737 shares during the period. ING Groep NV grew its position in shares of Plains All American Pipeline by 12.2% in the 3rd quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after acquiring an additional 332,000 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Plains All American Pipeline by 374.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after acquiring an additional 181,484 shares during the period. UMB Bank n.a. grew its position in shares of Plains All American Pipeline by 21.5% in the 4th quarter. UMB Bank n.a. now owns 68,078 shares of the pipeline company’s stock valued at $1,031,000 after acquiring an additional 12,046 shares during the period. Finally, Alps Advisors Inc. grew its position in shares of Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock valued at $1,026,923,000 after acquiring an additional 8,406,683 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.