Plains All American Pipeline (NYSE:PAA) Research Coverage Started at Scotiabank

Equities researchers at Scotiabank began coverage on shares of Plains All American Pipeline (NYSE:PAA - Get Free Report) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a "sector outperform" rating and a $23.00 price target on the pipeline company's stock. Scotiabank's target price would suggest a potential upside of 21.82% from the stock's previous close.

Several other brokerages have also commented on PAA. Citigroup upped their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the company a "neutral" rating in a research note on Friday, March 1st. Truist Financial upped their price target on 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. Finally, StockNews.com raised Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.10.

Plains All American Pipeline Trading Up 1.7 %

NYSE:PAA traded up $0.32 during trading hours on Monday, hitting $18.88. The company had a trading volume of 4,578,373 shares, compared to its average volume of 3,147,199. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $16.61 and a 200 day moving average of $15.80. The company has a market cap of $13.24 billion, a P/E ratio of 13.58 and a beta of 1.59. Plains All American Pipeline has a 1 year low of $12.07 and a 1 year high of $19.03.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. Sell-side analysts expect that Plains All American Pipeline will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of PAA. Moneta Group Investment Advisors LLC lifted its stake in Plains All American Pipeline by 109,124.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 46,409,609 shares of the pipeline company's stock worth $545,777,000 after acquiring an additional 46,367,119 shares in the last quarter. Blackstone Inc. raised its position in Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company's stock valued at $371,771,000 after purchasing an additional 13,787,485 shares in the last quarter. Alps Advisors Inc. raised its position in Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company's stock valued at $1,026,923,000 after purchasing an additional 8,406,683 shares in the last quarter. Invesco Ltd. raised its position in Plains All American Pipeline by 38.9% in the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company's stock valued at $187,388,000 after purchasing an additional 4,880,244 shares in the last quarter. Finally, UBS Group AG raised its position in 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 in the last quarter. Institutional investors and hedge funds 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.