Plains All American Pipeline (NASDAQ:PAA) Stock Lifted to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Plains All American Pipeline (PAA) from “hold” to “buy.” Other analysts also raised price targets, though the broader consensus remains “Hold” with an average target of $25.43.
• PAA shares opened at $23.75, compared with a 12-month range of $15.69 to $26.39, and the company carries a market capitalization of approximately $16.76 billion.
• The company reported quarterly revenue of $17.69 billion, up 66.3% year over year, but earnings per share of $0.41 missed the $0.50 analyst consensus. Institutional investors own about 41.78% of the stock.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on PAA. Weiss Ratings upgraded Plains All American Pipeline from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. Scotiabank raised their target price on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, September 10th. Morgan Stanley raised their target price on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 18th. Zacks Research raised shares of Plains All American Pipeline from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Mizuho upped their price target on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Plains All American Pipeline currently has an average rating of "Hold" and an average target price of $25.43.

Plains All American Pipeline Stock Performance

NASDAQ PAA opened at $23.75 on Friday. The company has a 50-day simple moving average of $24.66 and a two-hundred day simple moving average of $23.21. 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 12-month low of $15.69 and a 12-month high of $26.39. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 8.17 and a beta of 0.57.

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 the consensus estimate of $0.50 by ($0.09). The company had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The company's revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities analysts forecast that Plains All American Pipeline will post 1.78 EPS for the current year.

Institutional Trading of Plains All American Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bullseye Investment Management LLC purchased a new position in Plains All American Pipeline during the 2nd quarter valued at about $44,000. Tidal Investments LLC grew its holdings in Plains All American Pipeline by 754.8% in the second quarter. Tidal Investments LLC now owns 87,636 shares of the company's stock worth $1,951,000 after purchasing an additional 77,384 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Plains All American Pipeline by 7.0% during the second quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock valued at $307,000 after purchasing an additional 905 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Plains All American Pipeline by 15.2% during the second quarter. NewEdge Advisors LLC now owns 139,680 shares of the company's stock valued at $3,109,000 after purchasing an additional 18,465 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Plains All American Pipeline by 0.7% during the second quarter. Parkside Financial Bank & Trust now owns 60,291 shares of the company's stock valued at $1,342,000 after purchasing an additional 392 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

About Plains All American Pipeline

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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