Plains All American Pipeline (NYSE:PAA) Upgraded by Credit Suisse Group to Outperform

Plains All American Pipeline (NYSE:PAAGet Rating) was upgraded by research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a $14.00 price objective on the pipeline company’s stock, up from their prior price objective of $13.00. Credit Suisse Group’s price objective would indicate a potential upside of 36.72% from the stock’s current price.

A number of other research analysts have also commented on PAA. Raymond James raised their price objective on shares of Plains All American Pipeline from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Sanford C. Bernstein upgraded shares of Plains All American Pipeline from a “market perform” rating to an “outperform” rating and set a $14.50 price objective on the stock in a research note on Tuesday, January 25th. Barclays raised their price objective on shares of Plains All American Pipeline from $12.00 to $13.00 in a research note on Thursday, January 20th. TD Securities raised their price objective on shares of Plains All American Pipeline from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 11th. Finally, StockNews.com cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.54.

Shares of NYSE:PAA opened at $10.24 on Thursday. The firm’s 50 day moving average is $10.88 and its two-hundred day moving average is $10.44. Plains All American Pipeline has a 52 week low of $8.64 and a 52 week high of $12.38. The firm has a market capitalization of $7.22 billion, a P/E ratio of 44.52 and a beta of 1.82. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

Plains All American Pipeline (NYSE:PAAGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Plains All American Pipeline had a net margin of 0.65% and a return on equity of 10.47%. The firm had revenue of $13.69 billion during the quarter, compared to analyst estimates of $12.15 billion. During the same quarter in the previous year, the business posted $0.25 EPS. Plains All American Pipeline’s revenue for the quarter was up 63.4% compared to the same quarter last year. Analysts predict that Plains All American Pipeline will post 0.83 EPS for the current year.

Several large investors have recently modified their holdings of the business. Lee Financial Co boosted its stake in shares of Plains All American Pipeline by 5.9% during the 4th quarter. Lee Financial Co now owns 16,322 shares of the pipeline company’s stock valued at $153,000 after buying an additional 909 shares during the period. US Bancorp DE boosted its stake in shares of Plains All American Pipeline by 1.2% during the 1st quarter. US Bancorp DE now owns 93,596 shares of the pipeline company’s stock valued at $1,008,000 after buying an additional 1,085 shares during the period. Financial Counselors Inc. boosted its stake in shares of Plains All American Pipeline by 6.4% during the 1st quarter. Financial Counselors Inc. now owns 18,177 shares of the pipeline company’s stock valued at $196,000 after buying an additional 1,100 shares during the period. Cetera Advisors LLC boosted its stake in shares of Plains All American Pipeline by 5.5% during the 3rd quarter. Cetera Advisors LLC now owns 21,306 shares of the pipeline company’s stock valued at $217,000 after buying an additional 1,117 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in shares of Plains All American Pipeline by 2.1% during the 1st quarter. Prospera Financial Services Inc now owns 54,013 shares of the pipeline company’s stock valued at $581,000 after buying an additional 1,117 shares during the period. 45.58% of the stock is owned by institutional investors.

About Plains All American Pipeline (Get Rating)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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