Plains All American Pipeline (NASDAQ:PAA – Get Free Report) had its target price lifted by investment analysts at Barclays from $24.00 to $25.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price points to a potential upside of 3.67% from the stock’s current price.
Several other research analysts also recently commented on the stock. Morgan Stanley raised their price objective on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Truist Financial lifted their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Scotiabank reissued an “outperform” rating and set a $28.00 target price on shares of Plains All American Pipeline in a report on Thursday, October 15th. JPMorgan Chase & Co. increased their target price on Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $28.00 price target on shares of Plains All American Pipeline in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.
Read Our Latest Report on Plains All American Pipeline
Plains All American Pipeline Stock Performance
NASDAQ PAA traded up $0.45 during trading on Wednesday, hitting $24.11. 193,964 shares of the company’s stock traded hands, compared to its average volume of 2,967,145. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 8.36 and a beta of 0.58. Plains All American Pipeline has a 12-month low of $16.50 and a 12-month high of $26.98. The business has a 50 day moving average of $25.15 and a 200-day moving average of $22.99.
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last posted its earnings results on Friday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.44). Plains All American Pipeline had a return on equity of 12.70% and a net margin of 4.81%. The business had revenue of $15.17 billion during the quarter. During the same period last year, the firm earned $0.39 EPS. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. As a group, equities research analysts anticipate that Plains All American Pipeline will post 1.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Allied Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline in the second quarter worth $33,000. Bullseye Investment Management LLC purchased a new position in Plains All American Pipeline during the second quarter worth about $44,000. MADDEN SECURITIES Corp purchased a new position in Plains All American Pipeline during the third quarter worth about $52,000. Scarborough Advisors LLC purchased a new position in Plains All American Pipeline during the first quarter worth about $80,000. Finally, EverSource Wealth Advisors LLC increased its stake in Plains All American Pipeline by 1,164.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock worth $85,000 after acquiring an additional 3,494 shares during the last quarter. 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. is a midstream energy company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company’s systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.
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