Plains All American Pipeline (NYSE:PAA) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered the target price for Plains All American Pipeline's stock from $21.00 to $20.00, maintaining a "neutral" rating.
• Other analysts have also set various target prices, with Citigroup at $18.00 and Morgan Stanley at $20.00, contributing to an average rating of "Hold" for the stock.
• Plains All American Pipeline's recent earnings report showed earnings per share of $0.36, exceeding estimates, but revenue declined by 16.6% year-over-year.

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its target price lowered by analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the pipeline company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 18.45% from the company's current price.

A number of other analysts have also recently commented on the company. Morgan Stanley dropped their price objective on Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Mizuho set a $22.00 price objective on Plains All American Pipeline and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Zacks Research raised Plains All American Pipeline to a "hold" rating in a report on Monday, August 11th. Citigroup set a $18.00 target price on Plains All American Pipeline and gave the stock a "neutral" rating in a research report on Friday, August 8th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.58.

Plains All American Pipeline Stock Down 0.8%

Shares of PAA traded down $0.14 during mid-day trading on Thursday, hitting $16.89. 1,156,924 shares of the company traded hands, compared to its average volume of 3,442,211. The business has a 50 day moving average of $17.88 and a 200 day moving average of $17.95. The company has a market capitalization of $11.88 billion, a PE ratio of 23.10 and a beta of 0.80. Plains All American Pipeline has a 1-year low of $15.57 and a 1-year high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The firm's revenue was down 16.6% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Equities research analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current year.

Institutional Trading of Plains All American Pipeline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its holdings in Plains All American Pipeline by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company's stock valued at $1,475,000 after acquiring an additional 628 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after purchasing an additional 657 shares during the period. Capital Advisory Group Advisory Services LLC raised its position in Plains All American Pipeline by 2.5% during the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock worth $569,000 after buying an additional 685 shares during the last quarter. HB Wealth Management LLC raised its position in Plains All American Pipeline by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company's stock worth $279,000 after buying an additional 748 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Plains All American Pipeline by 76.1% during the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 761 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.