Plains All American Pipeline (NYSE:PAA) PT Raised to $20.00 at Wells Fargo & Company

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its target price boosted by equities research analysts at Wells Fargo & Company from $19.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the pipeline company's stock. Wells Fargo & Company's price objective suggests a potential upside of 13.25% from the company's current price.

Several other analysts have also recently issued reports on PAA. Truist Financial increased their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th. TD Securities increased their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday. Scotiabank began coverage on Plains All American Pipeline in a research report on Monday, April 8th. They set a "sector outperform" rating and a $23.00 target price for the company. Citigroup raised their price target on Plains All American Pipeline from $17.50 to $18.00 and gave the company a "neutral" rating in a report on Monday. Finally, Stifel Nicolaus lifted their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline has an average rating of "Moderate Buy" and an average price target of $19.15.

Plains All American Pipeline Stock Performance

PAA traded up $0.17 on Wednesday, hitting $17.66. The company's stock had a trading volume of 3,234,425 shares, compared to its average volume of 3,447,702. The company's 50 day simple moving average is $17.42 and its 200-day simple moving average is $16.18. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 12 month low of $12.50 and a 12 month high of $19.03. The firm has a market cap of $12.38 billion, a P/E ratio of 15.22 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its holdings in Plains All American Pipeline by 5.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 124,664 shares of the pipeline company's stock valued at $1,910,000 after buying an additional 6,395 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Plains All American Pipeline by 36.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,408 shares of the pipeline company's stock valued at $328,000 after acquiring an additional 5,761 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Plains All American Pipeline by 1.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 346,717 shares of the pipeline company's stock worth $5,312,000 after purchasing an additional 3,483 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Plains All American Pipeline by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 131,708 shares of the pipeline company's stock worth $2,018,000 after purchasing an additional 4,590 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company's stock valued at $38,000 after purchasing an additional 1,700 shares during the period. 41.78% of the stock is owned by institutional investors.

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.