Mizuho Has Lowered Expectations for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its target price reduced by research analysts at Mizuho from $21.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Mizuho’s price target points to a potential upside of 20.12% from the stock’s current price.

Several other equities analysts have also recently weighed in on PAA. StockNews.com raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 9th. Citigroup dropped their price target on shares of Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Barclays reiterated an “underweight” rating and issued a $18.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline has a consensus rating of “Moderate Buy” and an average target price of $20.45.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $16.65 on Tuesday. Plains All American Pipeline has a fifty-two week low of $15.58 and a fifty-two week high of $21.00. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 22.81 and a beta of 0.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm’s 50-day simple moving average is $17.97 and its 200 day simple moving average is $18.44.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts anticipate that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently modified their holdings of PAA. Barclays PLC increased its stake in shares of Plains All American Pipeline by 1.6% during the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after purchasing an additional 32,061 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Plains All American Pipeline by 5.8% during the 4th quarter. Arkadios Wealth Advisors now owns 25,089 shares of the pipeline company’s stock worth $429,000 after purchasing an additional 1,376 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $273,000. Janney Montgomery Scott LLC increased its stake in shares of Plains All American Pipeline by 17.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 106,348 shares of the pipeline company’s stock worth $1,816,000 after purchasing an additional 15,448 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of Plains All American Pipeline by 21.3% during the 4th quarter. Avior Wealth Management LLC now owns 9,705 shares of the pipeline company’s stock worth $166,000 after purchasing an additional 1,705 shares during the last quarter. Hedge funds and other 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.