Morgan Stanley Issues Positive Forecast for Plains All American Pipeline (NASDAQ:PAA) Stock Price

Key Points

• Morgan Stanley raised its price target for Plains All American Pipeline from $25 to $26 while maintaining an “equal weight” rating, implying 8.58% upside from the stock’s $23.95 price.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $23.54, despite upgrades from Wall Street Zen and UBS’s reiterated “buy” rating.
• Plains reported quarterly EPS of $0.41, below the $0.50 consensus estimate, though revenue rose 66.3% year over year to $17.69 billion; institutional investors own 41.78% of the company.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $25.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 8.58% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Saturday. Barclays increased their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock an "underweight" rating in a report on Thursday, July 16th. UBS Group reiterated a "buy" rating on shares of Plains All American Pipeline in a research report on Tuesday, June 16th. Royal Bank Of Canada boosted their target price on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the company a "sector perform" rating in a research note on Monday. Finally, Citigroup upped their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $23.54.

Plains All American Pipeline Stock Performance

Shares of NASDAQ PAA traded up $0.20 during mid-day trading on Tuesday, hitting $23.95. The company had a trading volume of 453,492 shares, compared to its average volume of 3,087,942. The stock has a market cap of $16.89 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 8.27 and a beta of 0.50. Plains All American Pipeline has a 12 month low of $15.69 and a 12 month high of $25.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The firm's 50 day simple moving average is $23.07 and its two-hundred day simple moving average is $22.14.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.09). The company had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. Plains All American Pipeline's revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. As a group, equities research analysts forecast that Plains All American Pipeline will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently modified their holdings of PAA. NewEdge Advisors LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at about $260,000. Guggenheim Capital LLC raised its position in shares of Plains All American Pipeline by 5.9% during the 2nd quarter. Guggenheim Capital LLC now owns 46,288 shares of the company's stock worth $848,000 after buying an additional 2,592 shares in the last quarter. First Trust Advisors LP raised its position in shares of Plains All American Pipeline by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 404,921 shares of the company's stock worth $7,418,000 after buying an additional 16,096 shares in the last quarter. Glenview Trust co acquired a new stake in shares of Plains All American Pipeline in the 2nd quarter worth approximately $404,000. Finally, HUB Investment Partners LLC lifted its stake in shares of Plains All American Pipeline by 5.6% in the 2nd quarter. HUB Investment Partners LLC now owns 91,113 shares of the company's stock worth $1,669,000 after acquiring an additional 4,839 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

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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