Plains All American Pipeline (NYSE:PAA) Upgraded to Buy at Wall Street Zen

Plains All American Pipeline (NYSE:PAA - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

Several other equities analysts also recently weighed in on PAA. Barclays reiterated an "underweight" rating and issued a $18.00 price target on shares of Plains All American Pipeline in a report on Friday, May 9th. Morgan Stanley reiterated an "equal weight" rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. Citigroup reduced their target price on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Raymond James reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Scotiabank cut their price target on Plains All American Pipeline from $21.00 to $20.00 and set a "sector outperform" rating on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.45.

Plains All American Pipeline Stock Performance

Shares of PAA traded up $0.12 during trading hours on Tuesday, reaching $16.74. 1,560,937 shares of the company traded hands, compared to its average volume of 3,105,713. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average price of $17.84 and a 200-day moving average price of $18.45. Plains All American Pipeline has a 12-month low of $15.58 and a 12-month high of $21.00. The stock has a market capitalization of $11.77 billion, a P/E ratio of 22.93 and a beta of 0.70.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business's revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Equities analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently bought and sold shares of PAA. ING Groep NV increased its position in shares of Plains All American Pipeline by 194.5% in the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company's stock valued at $66,486,000 after buying an additional 2,570,700 shares in the last quarter. Barclays PLC increased its holdings in Plains All American Pipeline by 110.4% in the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company's stock worth $72,186,000 after acquiring an additional 2,218,014 shares in the last quarter. Invesco Ltd. raised its position in Plains All American Pipeline by 6.4% during the first quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company's stock worth $591,988,000 after acquiring an additional 1,771,452 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Plains All American Pipeline by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock valued at $422,894,000 after purchasing an additional 1,524,185 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock valued at $261,283,000 after purchasing an additional 1,211,286 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

About Plains All American Pipeline

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.