Plains All American Pipeline (NYSE:PAA) Price Target Raised to $20.00 at Scotiabank

Key Points

• Scotiabank has raised its price target for Plains All American Pipeline (NYSE:PAA) from $18.00 to $20.00, indicating a potential upside of 17.06% from the current stock price.
• Analysts have mixed ratings on the stock, with one Strong Buy, three Buy, eight Hold, and one Sell, leading to an average price target of $20.58.
• Plains All American reported a quarterly earnings per share of $0.36, surpassing expectations and reflecting a 16.6% year-over-year revenue decline.

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its price target lifted by analysts at Scotiabank from $18.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "sector outperform" rating on the pipeline company's stock. Scotiabank's price target points to a potential upside of 17.06% from the stock's current price.

PAA has been the subject of a number of other reports. Zacks Research raised Plains All American Pipeline to a "hold" rating in a research note on Monday, August 11th. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the company a "buy" rating in a report on Tuesday, July 15th. Mizuho set a $22.00 price target on Plains All American Pipeline and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 16th. Finally, Citigroup set a $18.00 price target on Plains All American Pipeline and gave the stock a "neutral" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.58.

Plains All American Pipeline Price Performance

NYSE PAA traded down $0.14 during trading hours on Monday, hitting $17.09. The company had a trading volume of 747,648 shares, compared to its average volume of 3,520,623. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 23.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a 50 day simple moving average of $18.11 and a 200 day simple moving average of $18.13. Plains All American Pipeline has a 52 week low of $15.57 and a 52 week high of $21.00.

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%.During the same quarter in the previous year, the business posted $0.31 EPS. The company's revenue was down 16.6% on a year-over-year basis. Equities research analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently made changes to their positions in PAA. Farther Finance Advisors LLC increased its stake in shares of Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the period. Blue Trust Inc. boosted its holdings in Plains All American Pipeline by 76.1% during the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company's stock worth $32,000 after buying an additional 761 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in Plains All American Pipeline during the second quarter worth approximately $40,000. Atwood & Palmer Inc. acquired a new position in Plains All American Pipeline in the 2nd quarter worth approximately $42,000. Finally, North Capital Inc. acquired a new position in Plains All American Pipeline in the 1st quarter worth approximately $61,000. 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.

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