Barclays Forecasts Strong Price Appreciation for Plains All American Pipeline (NYSE:PAA) Stock

Plains All American Pipeline (NYSE:PAA) had its price target upped by analysts at Barclays from $18.00 to $19.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the pipeline company’s stock. Barclays‘s price objective indicates a potential downside of 5.28% from the company’s current price.

A number of other equities analysts have also commented on PAA. Scotiabank restated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.92.

Plains All American Pipeline Trading Down 0.5 %

Shares of PAA opened at $20.06 on Thursday. 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 stock has a market cap of $14.12 billion, a PE ratio of 17.91 and a beta of 1.64. Plains All American Pipeline has a 1 year low of $15.02 and a 1 year high of $20.35. The stock has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $17.74.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Institutional Trading of Plains All American Pipeline

A number of institutional investors have recently bought and sold shares of the business. Axiom Advisory LLC boosted its position in shares of Plains All American Pipeline by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 750 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after buying an additional 856 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Plains All American Pipeline by 0.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after acquiring an additional 1,047 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after acquiring an additional 1,060 shares during the last quarter. Institutional investors and hedge funds 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.