JPMorgan Chase & Co. Raises Plains All American Pipeline (NYSE:PAA) Price Target to $20.00

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $19.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the pipeline company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 8.74% from the stock's current price.

Several other analysts have also weighed in on PAA. Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Citigroup dropped their price target on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.33.

Plains All American Pipeline Stock Up 3.7%

Shares of PAA stock traded up $0.65 during mid-day trading on Wednesday, reaching $18.39. 1,692,890 shares of the company were exchanged, compared to its average volume of 3,808,462. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business's 50 day simple moving average is $17.22 and its 200 day simple moving average is $18.41. The company has a market capitalization of $12.94 billion, a P/E ratio of 25.18 and a beta of 0.66. Plains All American Pipeline has a fifty-two week low of $15.57 and a fifty-two week high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Research analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in shares of Plains All American Pipeline by 74.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 58,491 shares of the pipeline company's stock worth $999,000 after buying an additional 25,013 shares during the period. Jones Financial Companies Lllp boosted its position in Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after acquiring an additional 3,368 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Plains All American Pipeline by 50.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,154 shares of the pipeline company's stock worth $805,000 after acquiring an additional 15,854 shares during the period. Raymond James Financial Inc. bought a new position in shares of Plains All American Pipeline in the fourth quarter worth $11,247,000. Finally, Sanctuary Advisors LLC increased its holdings in shares of Plains All American Pipeline by 16.9% during the fourth quarter. Sanctuary Advisors LLC now owns 64,854 shares of the pipeline company's stock valued at $1,108,000 after purchasing an additional 9,360 shares during the period. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.