Plains All American Pipeline (NASDAQ:PAA) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Plains All American Pipeline from “hold” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $23.23.
• PAA shares opened at $23.90, up 1.9%, and remain near their 52-week high of $25.03. The company reported quarterly revenue growth of 66.3% year over year, although earnings per share of $0.41 missed estimates of $0.50.
• Institutional investors own 41.78% of PAA, with major holders including Invesco, Goldman Sachs, Morgan Stanley, Tortoise Capital Advisors and Brookfield increasing their positions recently.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other brokerages have also recently commented on PAA. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. US Capital Advisors lowered shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, May 29th. Wells Fargo & Company lifted their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. UBS Group reiterated a "buy" rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Finally, Scotiabank increased their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.23.

Plains All American Pipeline Stock Up 1.9%

Shares of PAA stock opened at $23.90 on Friday. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $25.03. The stock has a market cap of $16.86 billion, a PE ratio of 6.62, a price-to-earnings-growth ratio of 8.11 and a beta of 0.50. The business's fifty day moving average is $23.05 and its 200-day moving average is $22.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 1.12.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The firm had revenue of $17.69 billion during the quarter. During the same quarter in the previous year, the company earned $0.36 earnings per share. The business's quarterly revenue was up 66.3% on a year-over-year basis. Equities analysts expect that Plains All American Pipeline will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of Plains All American Pipeline by 0.7% during the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company's stock valued at $601,818,000 after purchasing an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 worth $360,097,000 after purchasing an additional 3,033,216 shares in the last quarter. Morgan Stanley boosted its holdings 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. increased its position in Plains All American Pipeline by 2.9% during 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 buying an additional 265,555 shares during the last quarter. Finally, BROOKFIELD Corp ON increased its position in Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company's stock worth $124,112,000 after buying an additional 1,076,291 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Company Profile

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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