Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $28.00 at UBS Group

Key Points

• UBS Group raised Plains All American Pipeline’s price target to $28 from $27 and maintained a “buy” rating, implying 10.55% upside from the reported $25.33 share price.
• Analyst sentiment is mixed: PAA has a consensus “hold” rating and an average price target of $25.43, despite recent target increases from several firms.
• The company 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 41.78% of its stock.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its target price hoisted by equities research analysts at UBS Group from $27.00 to $28.00 in a report released on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 10.55% from the company's current price.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada raised their price target on Plains All American Pipeline from $23.00 to $26.00 and gave the company a "sector perform" rating in a research note on Monday, August 17th. Citigroup raised their target price on Plains All American Pipeline from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a "sell" rating to a "neutral" rating and increased their price target for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Zacks Research upgraded shares of Plains All American Pipeline from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Mizuho increased their price target on Plains All American Pipeline from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday. One 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 given a Sell rating to the company's stock. According to MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and a consensus price target of $25.43.

Plains All American Pipeline Stock Down 0.2%

Shares of NASDAQ:PAA opened at $25.33 on Monday. The business has a 50-day moving average price of $24.61 and a 200 day moving average price of $23.03. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $26.39. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 8.88 and a beta of 0.52.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PAA. Parkside Financial Bank & Trust raised its stake in shares of Plains All American Pipeline by 0.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 60,291 shares of the company's stock valued at $1,342,000 after acquiring an additional 392 shares during the period. D.A. Davidson & CO. increased its holdings in Plains All American Pipeline by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company's stock valued at $635,000 after purchasing an additional 453 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Plains All American Pipeline by 1.7% in the second quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company's stock valued at $671,000 after purchasing an additional 509 shares during the period. HB Wealth Management LLC lifted its stake in shares of Plains All American Pipeline by 3.4% during the second quarter. HB Wealth Management LLC now owns 15,988 shares of the company's stock worth $356,000 after purchasing an additional 525 shares in the last quarter. Finally, Clear Trail Advisors LLC boosted its position in shares of Plains All American Pipeline by 1.5% in the first quarter. Clear Trail Advisors LLC now owns 57,047 shares of the company's stock worth $1,274,000 after buying an additional 858 shares during the period. Hedge funds and other institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Company Profile

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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