Plains All American Pipeline (NASDAQ:PAA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised its price target for Plains All American Pipeline from $24 to $27 while maintaining a neutral rating, implying approximately 5.8% upside from the stock’s then-current price.
• Analyst sentiment remains mixed: MarketBeat reports an overall consensus rating of “Hold” and an average price target of $24.08, based on one Strong Buy, seven Buys, seven Holds and two Sell ratings.
• PAA shares fell 0.8% to $25.52 in Thursday trading. The company’s latest quarterly EPS of $0.41 missed estimates of $0.50, although revenue rose 66.3% year over year to $17.69 billion.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $24.00 to $27.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 5.80% from the company's current price.

Other equities analysts have also recently issued reports about the stock. US Capital Advisors cut shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, May 29th. Citigroup lifted their target price on Plains All American Pipeline from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. The Goldman Sachs Group upgraded Plains All American Pipeline from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Barclays increased their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company an "underweight" rating in a report on Thursday, July 16th. Finally, UBS Group restated a "buy" rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $24.08.

Plains All American Pipeline Stock Down 0.8%

Shares of PAA traded down $0.20 during mid-day trading on Thursday, reaching $25.52. 3,160,373 shares of the stock traded hands, compared to its average volume of 3,065,148. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 8.95 and a beta of 0.52. The stock has a fifty day simple moving average of $23.83 and a 200 day simple moving average of $22.60. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $25.97. 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 announced its earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. Sell-side analysts expect that Plains All American Pipeline will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its stake in Plains All American Pipeline by 1.6% during 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 during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Plains All American Pipeline by 1.7% during the second quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company's stock valued at $671,000 after buying an additional 509 shares during the last quarter. HB Wealth Management LLC raised its holdings 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 valued at $356,000 after buying an additional 525 shares during the last quarter. Summit Financial LLC boosted its position in shares of Plains All American Pipeline by 1.0% during the fourth quarter. Summit Financial LLC now owns 61,265 shares of the company's stock worth $1,100,000 after buying an additional 599 shares during the period. Finally, Symphony Financial Services Inc. boosted its position in shares of Plains All American Pipeline by 1.4% during the fourth quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company's stock worth $943,000 after buying an additional 715 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

About Plains All American Pipeline

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

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