Plains All American Pipeline (NASDAQ:PAA – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
Other research analysts have also recently issued reports about the stock. Mizuho raised their target price on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Barclays upped their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Scotiabank upped their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and an average target price of $23.23.
Read Our Latest Stock Analysis on Plains All American Pipeline
Plains All American Pipeline Stock Performance
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The business had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.50% and a net margin of 5.29%.Plains All American Pipeline’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts expect that Plains All American Pipeline will post 1.83 EPS for the current fiscal year.
Institutional Trading of Plains All American Pipeline
Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in shares of Plains All American Pipeline during the first quarter worth about $260,000. Guggenheim Capital LLC grew its holdings in shares of Plains All American Pipeline by 5.9% in the 2nd quarter. Guggenheim Capital LLC now owns 46,288 shares of the company’s stock valued at $848,000 after acquiring an additional 2,592 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Plains All American Pipeline by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 404,921 shares of the company’s stock valued at $7,418,000 after acquiring an additional 16,096 shares in the last quarter. Glenview Trust co acquired a new position in shares of Plains All American Pipeline during the 2nd quarter worth approximately $404,000. Finally, HUB Investment Partners LLC boosted its holdings in shares of Plains All American Pipeline by 5.6% in the 2nd quarter. HUB Investment Partners LLC now owns 91,113 shares of the company’s stock valued at $1,669,000 after buying an additional 4,839 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.
Plains All American Pipeline Company Profile
Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.
Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.
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