UBS Group Increases Plains All American Pipeline (NYSE:PAA) Price Target to $22.00

Plains All American Pipeline (NYSE:PAA) had its target price increased by research analysts at UBS Group from $21.00 to $22.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. UBS Group’s price objective indicates a potential upside of 23.94% from the stock’s previous close.

PAA has been the topic of several other research reports. The Goldman Sachs Group increased their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday. Truist Financial increased their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Citigroup increased their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Scotiabank assumed coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. Finally, StockNews.com upgraded shares of Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Moderate Buy” and an average target price of $18.68.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $17.75 on Friday. The company’s 50-day moving average is $16.82 and its 200 day moving average is $15.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 12.77 and a beta of 1.59. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Sell-side analysts expect that Plains All American Pipeline will post 1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY grew its holdings in Plains All American Pipeline by 4.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 2,499,924 shares of the pipeline company’s stock valued at $43,899,000 after buying an additional 99,915 shares in the last quarter. Mather Group LLC. purchased a new stake in Plains All American Pipeline during the 1st quarter valued at approximately $76,000. Walnut Private Equity Partners LLC grew its holdings in Plains All American Pipeline by 2.6% during the 1st quarter. Walnut Private Equity Partners LLC now owns 400,000 shares of the pipeline company’s stock valued at $7,024,000 after buying an additional 10,000 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Plains All American Pipeline by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 201,893 shares of the pipeline company’s stock valued at $3,059,000 after purchasing an additional 2,687 shares in the last quarter. Finally, MONECO Advisors LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at $1,008,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.