Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $23.00

Key Points

• Morgan Stanley raised its price target on Plains All American Pipeline to $23.00 from $21.00 while maintaining an "equal weight" rating, implying roughly a 7.25% upside from the prior close.
• Analyst opinions are mixed with a MarketBeat consensus rating of "Hold" and a consensus target of $21.75; PAA traded at $21.45 (down 0.7%) and has a market cap of $15.13 billion.
• The company posted an EPS miss ( $0.17 vs. $0.50 expected) and reported quarterly revenue down about 12.2% year-over-year, indicating recent weakness in results.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its target price boosted by research analysts at Morgan Stanley from $21.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 7.25% from the stock's previous close.

A number of other research firms also recently issued reports on PAA. Barclays increased their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company an "underweight" rating in a research note on Monday, February 9th. Zacks Research downgraded shares of Plains All American Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. Scotiabank reaffirmed an "outperform" rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Bank of America downgraded Plains All American Pipeline from a "neutral" rating to an "underperform" rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. Finally, Wells Fargo & Company boosted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Plains All American Pipeline has an average rating of "Hold" and a consensus target price of $21.75.

Plains All American Pipeline Stock Down 0.7%

Shares of PAA stock traded down $0.15 on Wednesday, hitting $21.45. The stock had a trading volume of 488,001 shares, compared to its average volume of 3,729,963. Plains All American Pipeline has a one year low of $15.57 and a one year high of $22.29. The business has a 50 day moving average price of $20.09. The company has a market capitalization of $15.13 billion, a P/E ratio of 12.92, a PEG ratio of 3.38 and a beta of 0.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.92 and a current ratio of 0.96.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.The business's quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS.

Institutional Trading of Plains All American Pipeline

A number of institutional investors have recently bought and sold shares of PAA. Summit Financial LLC lifted its holdings in shares of Plains All American Pipeline by 1.0% in the 4th quarter. Summit Financial LLC now owns 61,265 shares of the company's stock worth $1,100,000 after acquiring an additional 599 shares during the last quarter. Exencial Wealth Advisors LLC increased its holdings in Plains All American Pipeline by 1.5% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the company's stock valued at $698,000 after purchasing an additional 601 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company's stock valued at $41,000 after purchasing an additional 655 shares during the last quarter. Symphony Financial Services Inc. raised its position in Plains All American Pipeline by 1.4% in the fourth quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company's stock valued at $943,000 after purchasing an additional 715 shares during the period. Finally, Sippican Capital Advisors lifted its stake in Plains All American Pipeline by 2.4% during the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the company's stock worth $589,000 after purchasing an additional 775 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

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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