Plains All American Pipeline (NYSE:PAA) Upgraded by Wolfe Research to “Outperform” Rating

Plains All American Pipeline (NYSE:PAA) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a $22.00 price target on the pipeline company’s stock. Wolfe Research’s price objective would indicate a potential upside of 17.46% from the stock’s previous close.

A number of other research firms have also issued reports on PAA. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.00.

Plains All American Pipeline Stock Up 6.2 %

PAA opened at $18.73 on Friday. Plains All American Pipeline has a one year low of $15.02 and a one year high of $19.17. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 16.72 and a beta of 1.64. The business’s fifty day moving average is $17.53 and its two-hundred day moving average is $17.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the company earned $0.35 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Plains All American Pipeline will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $27,000. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the third quarter valued at approximately $28,000. Sunbelt Securities Inc. grew its stake in Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,318 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Plains All American Pipeline by 31.2% in the second 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares during the period. 41.78% of the stock is currently 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.