Wells Fargo & Company Boosts Plains All American Pipeline (NASDAQ:PAA) Price Target to $22.00

Plains All American Pipeline (NASDAQ:PAA) had its price target raised by analysts at Wells Fargo & Company from $21.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.19% from the stock’s current price.

Other analysts have also recently issued reports about the company. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Zacks Research lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Citigroup boosted their price target on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada upped their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus price target of $21.58.

Plains All American Pipeline Stock Up 0.5%

Shares of NASDAQ:PAA opened at $21.32 on Friday. The company has a market cap of $15.04 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 3.39 and a beta of 0.59. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $22.29. The stock’s fifty day moving average is $19.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.92 and a current ratio of 0.96.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. The company’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share.

Institutional Trading of Plains All American Pipeline

Several large investors have recently modified their holdings of PAA. Bollard Group LLC raised its holdings in shares of Plains All American Pipeline by 13.2% during the second quarter. Bollard Group LLC now owns 1,131,158 shares of the company’s stock valued at $20,723,000 after purchasing an additional 132,008 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Plains All American Pipeline by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock valued at $122,814,000 after buying an additional 967,059 shares during the period. Inspire Investing LLC acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at about $1,045,000. Citigroup Inc. increased its position in Plains All American Pipeline by 17.8% in the 3rd quarter. Citigroup Inc. now owns 535,200 shares of the company’s stock valued at $9,131,000 after buying an additional 80,788 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in Plains All American Pipeline by 16.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 323,590 shares of the company’s stock valued at $5,928,000 after buying an additional 46,406 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.