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

Plains All American Pipeline (NYSE:PAA) had its price target raised by UBS Group from $21.00 to $22.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

Several other brokerages also recently issued reports on PAA. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They set a sector outperform rating and a $23.00 price objective for the company. Royal Bank of Canada boosted their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the company a sector perform rating in a report on Tuesday, May 14th. Stifel Nicolaus lifted their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company increased their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an overweight rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $19.38.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $18.90 on Tuesday. The stock’s fifty day simple moving average is $17.31 and its 200 day simple moving average is $16.71. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $13.25 billion, a PE ratio of 16.29 and a beta of 1.61. Plains All American Pipeline has a 12 month low of $13.88 and a 12 month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the firm posted $0.41 earnings per share. Plains All American Pipeline’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline will post 1.29 EPS for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently modified their holdings of the stock. Clarus Group Inc. boosted its holdings in shares of Plains All American Pipeline by 1.0% during the 1st quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock worth $1,221,000 after buying an additional 682 shares during the period. Covenant Asset Management LLC grew its position in shares of Plains All American Pipeline by 3.7% in the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock valued at $387,000 after purchasing an additional 795 shares during the last quarter. First National Trust Co increased its stake in shares of Plains All American Pipeline by 10.1% during the fourth quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock worth $171,000 after purchasing an additional 1,038 shares during the period. Wealth Alliance Advisory Group LLC lifted its holdings in Plains All American Pipeline by 1.3% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock worth $1,268,000 after purchasing an additional 1,112 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in Plains All American Pipeline by 3.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 34,910 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 1,195 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

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.