Plains All American Pipeline (NYSE:PAA) PT Raised to $18.00

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its target price lifted by equities research analysts at Royal Bank of Canada from $17.00 to $18.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a "sector perform" rating on the pipeline company's stock. Royal Bank of Canada's target price suggests a potential upside of 3.15% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Plains All American Pipeline from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 2nd. Citigroup boosted 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, May 6th. Truist Financial lifted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, March 19th. The Goldman Sachs Group upped 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, April 12th. Finally, UBS Group boosted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.23.

Plains All American Pipeline Trading Up 0.6 %

NYSE:PAA traded up $0.10 during trading hours on Tuesday, reaching $17.45. The company's stock had a trading volume of 1,513,145 shares, compared to its average volume of 3,377,810. Plains All American Pipeline has a 1 year low of $12.68 and a 1 year high of $19.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The firm has a 50-day simple moving average of $17.51 and a 200-day simple moving average of $16.24. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 14.96 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, beating analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. Research analysts expect that Plains All American Pipeline will post 1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAA. Blackstone Inc. increased its stake in shares of Plains All American Pipeline by 131.6% during the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company's stock valued at $371,771,000 after acquiring an additional 13,787,485 shares during the last quarter. Alps Advisors Inc. raised its stake in Plains All American Pipeline by 14.3% during the third quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company's stock worth $1,026,923,000 after purchasing an additional 8,406,683 shares during the period. UBS Group AG boosted its holdings in shares of Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company's stock valued at $129,630,000 after purchasing an additional 4,035,328 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Plains All American Pipeline by 9.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company's stock valued at $195,561,000 after buying an additional 1,135,737 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Plains All American Pipeline by 69.4% during the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company's stock worth $32,044,000 after buying an additional 747,852 shares during the last quarter. Institutional investors and hedge funds 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.