Plains All American Pipeline (NASDAQ:PAA) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target on Plains All American Pipeline to $25 from $24 but maintained an “underweight” rating, implying about 3.7% upside from the prior close.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $26.27.
• The company reported a quarterly loss of $0.04 per share, missing analysts’ $0.40 estimate, despite revenue rising 31.1% year over year to $15.17 billion.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its price objective hoisted by stock analysts at Barclays from $24.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price objective indicates a potential upside of 3.67% from the stock's previous close.

PAA has been the subject of several other research reports. Mizuho upped 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, September 21st. Citigroup raised their price objective on Plains All American Pipeline from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, September 17th. Weiss Ratings downgraded shares of Plains All American Pipeline from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, October 14th. Raymond James Financial reiterated a "strong-buy" rating and issued a $28.00 target price on shares of Plains All American Pipeline in a research note on Monday, October 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.27.

Plains All American Pipeline Stock Up 1.9%

PAA stock traded up $0.45 during mid-day trading on Wednesday, reaching $24.11. 193,964 shares of the company traded hands, compared to its average volume of 2,967,145. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 8.36 and a beta of 0.58. 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 fifty-two week low of $16.50 and a fifty-two week high of $26.98. The firm's 50 day moving average price is $25.15 and its 200 day moving average price is $22.99.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its quarterly earnings data on Friday, November 6th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.44). The company had revenue of $15.17 billion for the quarter. Plains All American Pipeline had a return on equity of 12.70% and a net margin of 4.81%. The business's quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts predict that Plains All American Pipeline will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently modified their holdings of PAA. Independent Advisor Alliance raised its holdings in shares of Plains All American Pipeline by 1.8% in the 3rd quarter. Independent Advisor Alliance now owns 71,266 shares of the company's stock worth $1,690,000 after purchasing an additional 1,262 shares during the period. OneAscent Financial Services LLC purchased a new stake in Plains All American Pipeline in the third quarter worth $420,000. Global Retirement Partners LLC increased its position in Plains All American Pipeline by 58.9% in the third quarter. Global Retirement Partners LLC now owns 14,345 shares of the company's stock worth $340,000 after buying an additional 5,316 shares during the last quarter. Cornerstone Advisors Asset Management LLC increased its position in Plains All American Pipeline by 100.0% in the third quarter. Cornerstone Advisors Asset Management LLC now owns 40,000 shares of the company's stock worth $949,000 after buying an additional 20,000 shares during the last quarter. Finally, First Trust Capital Management L.P. raised its stake in shares of Plains All American Pipeline by 126.2% in the third quarter. First Trust Capital Management L.P. now owns 24,711 shares of the company's stock valued at $581,000 after buying an additional 13,789 shares during the period. 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 company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company's systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.