Plains All American Pipeline (NYSE:PAA) Upgraded at StockNews.com

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

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

Plains All American Pipeline Price Performance

PAA opened at $18.07 on Wednesday. The stock’s 50-day moving average price is $17.23 and its 200 day moving average price is $16.05. Plains All American Pipeline has a 12-month low of $12.07 and a 12-month high of $19.03. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 13.00 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the company earned $0.33 EPS. Plains All American Pipeline’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts expect that Plains All American Pipeline will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAA. Blackstone Inc. increased its holdings in shares of Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock valued at $371,771,000 after acquiring an additional 13,787,485 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock valued at $1,026,923,000 after acquiring an additional 8,406,683 shares during the last quarter. UBS Group AG increased its holdings in shares of Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after acquiring an additional 4,035,328 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Plains All American Pipeline by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,772,559 shares of the pipeline company’s stock valued at $180,356,000 after acquiring an additional 1,197,006 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at about $11,188,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.