Plains All American Pipeline (NASDAQ:PAA) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Plains All American Pipeline from $23 to $25 and kept a buy rating, implying about 5.84% upside from the current price.
• Analyst sentiment remains mixed overall: MarketBeat says PAA has a consensus Hold rating with a consensus price target of $22.92, even after several firms recently adjusted their views.
• The company recently reported EPS of $0.39, missing estimates by $0.02, while revenue rose 8.7% year over year to $12.47 billion; institutional ownership stands at 41.78%.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) had its price target hoisted by Truist Financial from $23.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target would indicate a potential upside of 5.84% from the company's current price.

PAA has been the subject of a number of other reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 20th. Zacks Research cut shares of Plains All American Pipeline from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. UBS Group reiterated a "buy" rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Finally, Citigroup raised their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Plains All American Pipeline has a consensus rating of "Hold" and a consensus price target of $22.92.

Plains All American Pipeline Stock Performance

PAA stock opened at $23.62 on Wednesday. The stock has a market capitalization of $16.66 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 10.79 and a beta of 0.50. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $24.26. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The stock's 50 day simple moving average is $22.54 and its 200 day simple moving average is $21.24.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. As a group, research analysts forecast that Plains All American Pipeline will post 1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Plains All American Pipeline by 0.7% in the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company's stock worth $601,818,000 after acquiring an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company's stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the period. Morgan Stanley grew its stake in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company's stock worth $177,467,000 after purchasing an additional 2,833,161 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Plains All American Pipeline by 2.9% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company's stock worth $171,377,000 after purchasing an additional 265,555 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its holdings in Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company's stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the period. Institutional investors own 41.78% of the company's stock.

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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