StockNews.com Upgrades Plains All American Pipeline (NYSE:PAA) to “Strong-Buy”

Plains All American Pipeline (NYSE:PAA) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Other research analysts have also recently issued research reports about the stock. UBS Group raised their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Stifel Nicolaus raised their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup raised their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group raised their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Truist Financial raised their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Moderate Buy” and an average target price of $18.96.

Plains All American Pipeline Price Performance

NYSE PAA opened at $18.05 on Wednesday. The company has a market cap of $12.65 billion, a PE ratio of 12.99 and a beta of 1.59. Plains All American Pipeline has a 52-week low of $12.07 and a 52-week high of $19.03. 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 firm’s 50 day moving average price is $17.14 and its 200-day moving average price is $16.02.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion during 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%. Plains All American Pipeline’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. Sell-side analysts forecast that Plains All American Pipeline will post 1.26 EPS for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Several institutional investors have recently modified their holdings of PAA. AE Wealth Management LLC boosted its position in Plains All American Pipeline by 48.1% during the third quarter. AE Wealth Management LLC now owns 27,241 shares of the pipeline company’s stock worth $417,000 after acquiring an additional 8,848 shares during the last quarter. IFP Advisors Inc raised its stake in Plains All American Pipeline by 14.8% during the third quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 674 shares during the period. Exchange Traded Concepts LLC raised its stake in Plains All American Pipeline by 27.9% during the third quarter. Exchange Traded Concepts LLC now owns 539,991 shares of the pipeline company’s stock worth $8,273,000 after purchasing an additional 117,806 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Plains All American Pipeline during the third quarter worth about $124,000. Finally, Hennessy Advisors Inc. raised its stake in Plains All American Pipeline by 24.4% during the third quarter. Hennessy Advisors Inc. now owns 1,867,736 shares of the pipeline company’s stock worth $28,614,000 after purchasing an additional 366,900 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.