Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00 at Citigroup

Plains All American Pipeline (NYSE:PAA) had its target price boosted by equities research analysts at Citigroup from $17.50 to $18.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the pipeline company’s stock. Citigroup’s target price suggests a potential upside of 2.92% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Scotiabank assumed coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Truist Financial upped their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, TD Securities boosted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $19.08.

Plains All American Pipeline Stock Performance

PAA stock opened at $17.49 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a fifty-two week low of $12.50 and a fifty-two week high of $19.03. The stock has a market capitalization of $12.26 billion, a PE ratio of 15.08 and a beta of 1.58. The company has a 50 day moving average price of $17.42 and a 200 day moving average price of $16.18.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the company earned $0.41 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $28,000. CENTRAL TRUST Co increased its stake in Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Plains All American Pipeline during the 4th quarter worth about $39,000. Scarborough Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth about $46,000. Finally, Briaud Financial Planning Inc bought a new position in shares of Plains All American Pipeline in the 3rd quarter valued at about $58,000. Institutional investors 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.