Scotiabank Issues Pessimistic Forecast for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its price target dropped by stock analysts at Scotiabank from $20.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the pipeline company’s stock. Scotiabank’s target price indicates a potential upside of 12.16% from the company’s previous close.

A number of other brokerages have also recently commented on PAA. JPMorgan Chase & Co. dropped their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Barclays decreased their target price on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a research report on Friday, August 8th. Morgan Stanley decreased their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.45.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $16.94 on Thursday. Plains All American Pipeline has a 12 month low of $15.57 and a 12 month high of $21.00. The firm has a market capitalization of $11.91 billion, a P/E ratio of 23.21 and a beta of 0.74. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $16.79 and a two-hundred day simple moving average of $17.41.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period last year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities analysts forecast that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Large investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in Plains All American Pipeline by 76.1% during the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 761 shares during the period. Mather Group LLC. purchased a new stake in shares of Plains All American Pipeline in the third quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Plains All American Pipeline during the second quarter worth about $40,000. Caldwell Trust Co acquired a new position in Plains All American Pipeline in the third quarter valued at approximately $38,000. Finally, Atwood & Palmer Inc. purchased a new stake in Plains All American Pipeline in the 2nd quarter worth approximately $42,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.