Plains All American Pipeline (NASDAQ:PAA) Coverage Initiated by Analysts at Jefferies Financial Group

Key Points

• Jefferies initiated coverage of Plains All American Pipeline with a “buy” rating and a $27 price target, implying 10.57% upside from the prior close.
• Analyst sentiment is generally positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $25.53.
• PAA reported quarterly EPS of $0.41, below the $0.50 consensus estimate, although revenue rose 66.3% year over year to $17.69 billion.

Analysts at Jefferies Financial Group assumed coverage on shares of Plains All American Pipeline (NASDAQ:PAA - Get Free Report) in a research note issued to investors on Friday, Briefing.com reports. The firm set a "buy" rating and a $27.00 price target on the stock. Jefferies Financial Group's target price would suggest a potential upside of 10.57% from the stock's previous close.

A number of other equities analysts also recently weighed in on PAA. Scotiabank upped their target price on Plains All American Pipeline from $24.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, September 10th. Truist Financial boosted their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of Plains All American Pipeline from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, September 29th. Citigroup increased their target price on shares of Plains All American Pipeline from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, September 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.53.

Plains All American Pipeline Stock Performance

Shares of NASDAQ PAA opened at $24.42 on Friday. The stock's fifty day simple moving average is $24.62 and its 200 day simple moving average is $23.29. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 8.30 and a beta of 0.57. 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 has a 52-week low of $15.69 and a 52-week high of $26.39.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). The company had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm's revenue was up 66.3% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. As a group, sell-side analysts forecast that Plains All American Pipeline will post 1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently bought and sold shares of the business. Financial Life Planners acquired a new stake in shares of Plains All American Pipeline in the first quarter worth about $27,000. Allied Private Wealth LLC bought a new position in shares of Plains All American Pipeline in the 2nd quarter valued at approximately $33,000. Bullseye Investment Management LLC bought a new position in shares of Plains All American Pipeline in the 2nd quarter valued at approximately $44,000. Scarborough Advisors LLC acquired a new stake in Plains All American Pipeline in the 1st quarter worth approximately $80,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 worth $85,000 after purchasing an additional 3,494 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.

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