UBS Group Increases Plains All American Pipeline (NYSE:PAA) Price Target to $22.00

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its target price increased by stock analysts at UBS Group from $21.00 to $22.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the pipeline company's stock. UBS Group's price objective indicates a potential upside of 23.94% from the stock's current price.

A number of other equities analysts have also recently commented on PAA. Truist Financial raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. StockNews.com raised Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a report on Friday, March 22nd. Citigroup increased their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday. They issued a "sector outperform" rating and a $23.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a "sell" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.68.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded down $0.23 during trading on Friday, reaching $17.75. The company had a trading volume of 6,483,654 shares, compared to its average volume of 3,303,003. Plains All American Pipeline has a 52 week low of $12.07 and a 52 week high of $19.03. The firm's 50-day simple moving average is $16.82 and its 200 day simple moving average is $15.87. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 12.77 and a beta of 1.59. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The company had revenue of $12.70 billion for the quarter, compared to analysts' expectations of $14.30 billion. During the same period last year, the firm earned $0.33 EPS. Plains All American Pipeline's revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that Plains All American Pipeline will post 1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PAA. IFP Advisors Inc grew its position in Plains All American Pipeline by 14.8% in the third quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company's stock worth $80,000 after acquiring an additional 674 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Plains All American Pipeline by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 92,381 shares of the pipeline company's stock worth $1,152,000 after acquiring an additional 976 shares in the last quarter. First National Trust Co grew its position in Plains All American Pipeline by 10.1% in the fourth quarter. First National Trust Co now owns 11,277 shares of the pipeline company's stock worth $171,000 after acquiring an additional 1,038 shares in the last quarter. Captrust Financial Advisors grew its position in Plains All American Pipeline by 2.2% in the fourth quarter. Captrust Financial Advisors now owns 49,914 shares of the pipeline company's stock worth $587,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Plains All American Pipeline by 1.2% in the third quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company's stock worth $1,411,000 after acquiring an additional 1,089 shares in the last quarter. 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., 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.