Plains All American Pipeline (NASDAQ:PAA) Stock Price Expected to Rise, Barclays Analyst Says

Plains All American Pipeline (NASDAQ:PAA) had its target price boosted by analysts at Barclays from $18.00 to $21.00 in a report released on Friday, MarketBeat reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 3.49% from the company’s previous close.

A number of other research analysts have also recently commented on PAA. Royal Bank Of Canada raised their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Mizuho set a $23.00 price target on Plains All American Pipeline in a research report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Plains All American Pipeline in a research report on Monday, December 29th. Truist Financial initiated coverage on Plains All American Pipeline in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.08.

Plains All American Pipeline Stock Performance

Shares of NASDAQ PAA opened at $21.76 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Plains All American Pipeline has a 52 week low of $15.69 and a 52 week high of $22.79. The company has a market capitalization of $15.35 billion, a PE ratio of 13.11, a P/E/G ratio of 3.41 and a beta of 0.53. The stock has a fifty day moving average of $21.15.

Plains All American Pipeline (NASDAQ:PAA) last issued 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 return on equity of 10.76% and a net margin of 3.21%.During the same period in the prior year, the firm posted $0.42 earnings per share. Plains All American Pipeline’s revenue for the quarter was down 12.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. World Investment Advisors boosted its stake in shares of Plains All American Pipeline by 7.2% during the fourth quarter. World Investment Advisors now owns 21,542 shares of the company’s stock valued at $387,000 after purchasing an additional 1,442 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of Plains All American Pipeline by 222.8% during the fourth quarter. Virtu Financial LLC now owns 71,679 shares of the company’s stock valued at $1,287,000 after purchasing an additional 49,477 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Plains All American Pipeline by 8.3% during the fourth quarter. Sunbelt Securities Inc. now owns 33,569 shares of the company’s stock valued at $603,000 after purchasing an additional 2,563 shares in the last quarter. Claris Financial LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $280,000. Finally, Invesco Ltd. boosted its stake in shares of Plains All American Pipeline by 0.7% during the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after purchasing an additional 228,106 shares in the last quarter. Institutional investors 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.