Mizuho Forecasts Strong Price Appreciation for Plains All American Pipeline (NASDAQ:PAA) Stock

Key Points

• Mizuho raised its price target for Plains All American Pipeline from $27 to $30 and maintained an “outperform” rating, implying 18.25% potential upside from the current price.
• Analyst sentiment remains mixed: PAA has a consensus “Hold” rating and an average price target of $24.85, despite buy ratings from UBS and other firms.
• PAA reported quarterly EPS of $0.41, below the $0.50 consensus estimate, while revenue rose 66.3% year over year to $17.69 billion. Institutional investors own approximately 41.78% of the company.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its target price increased by stock analysts at Mizuho from $27.00 to $30.00 in a research report issued on Monday, Marketbeat reports. The firm currently has an "outperform" rating on the stock. Mizuho's price objective would suggest a potential upside of 18.25% from the company's current price.

Several other equities analysts have also weighed in on the company. UBS Group reaffirmed a "buy" rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Barclays restated an "underweight" rating and issued a $24.00 price target on shares of Plains All American Pipeline in a report on Monday. Royal Bank Of Canada lifted their price target on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the company a "sector perform" rating in a research report on Monday, August 17th. Wall Street Zen downgraded shares of Plains All American Pipeline from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Weiss Ratings raised shares of Plains All American Pipeline from a "buy (b-)" rating to a "buy (b+)" rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and a consensus price target of $24.85.

Plains All American Pipeline Price Performance

Shares of PAA opened at $25.37 on Monday. The firm has a market cap of $17.90 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 8.88 and a beta of 0.52. The company's fifty day moving average is $24.61 and its two-hundred day moving average is $23.03. Plains All American Pipeline has a fifty-two week low of $15.69 and a fifty-two week high of $26.39. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.09). The firm had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The firm's revenue was up 66.3% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. Analysts forecast that Plains All American Pipeline will post 1.75 earnings per share for the current year.

Institutional Trading of Plains All American Pipeline

A number of hedge funds have recently made changes to their positions in the company. Financial Life Planners acquired a new stake in Plains All American Pipeline during the 1st quarter valued at $27,000. Allied Private Wealth LLC purchased a new stake in Plains All American Pipeline during the 2nd quarter worth $33,000. Bullseye Investment Management LLC acquired a new position in Plains All American Pipeline in the 2nd quarter worth $44,000. Scarborough Advisors LLC acquired a new position in Plains All American Pipeline in the 1st quarter worth $80,000. Finally, EverSource Wealth Advisors LLC boosted its position in Plains All American Pipeline by 1,164.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company's stock valued at $85,000 after buying an additional 3,494 shares during the last quarter. 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. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.

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