Plains All American Pipeline (NYSE:PAA) PT Raised to $20.00 at Wells Fargo & Company

Plains All American Pipeline (NYSE:PAA) had its target price hoisted by equities researchers at Wells Fargo & Company from $19.00 to $20.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 14.09% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. UBS Group upped their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. The Goldman Sachs Group increased their price objective on shares of 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. Stifel Nicolaus upped their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup lifted their price target on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday. Finally, TD Securities upped their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

Plains All American Pipeline Stock Performance

Shares of PAA traded up $0.04 during mid-day trading on Wednesday, reaching $17.53. The company’s stock had a trading volume of 299,165 shares, compared to its average volume of 3,413,596. 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 stock has a market cap of $12.29 billion, a P/E ratio of 15.13 and a beta of 1.58. Plains All American Pipeline has a 1-year low of $12.50 and a 1-year high of $19.03. The business has a 50-day simple moving average of $17.42 and a two-hundred day simple moving average of $16.18.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. As a group, equities research analysts anticipate that Plains All American Pipeline will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of Plains All American Pipeline during the first quarter worth approximately $2,608,000. Susquehanna Fundamental Investments LLC purchased a new stake in Plains All American Pipeline during the 1st quarter worth about $4,420,000. SG Americas Securities LLC bought a new stake in shares of Plains All American Pipeline during the first quarter valued at about $201,000. Oxbow Advisors LLC boosted its position in shares of Plains All American Pipeline by 4.6% in the first quarter. Oxbow Advisors LLC now owns 115,933 shares of the pipeline company’s stock valued at $2,036,000 after acquiring an additional 5,115 shares during the period. Finally, Larson Financial Group LLC bought a new stake in Plains All American Pipeline during the 1st quarter worth approximately $88,000. 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.