Plains All American Pipeline (NYSE:PAA) Earns Sector Perform Rating from Royal Bank of Canada

Plains All American Pipeline (NYSE:PAA)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Friday,Benzinga reports. They currently have a $19.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 10.59% from the company’s current price.

Several other research firms have also commented on PAA. Bank of America assumed coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Stock Up 0.2 %

Shares of PAA opened at $17.18 on Friday. Plains All American Pipeline has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The company’s fifty day moving average is $17.34 and its two-hundred day moving average is $17.53. The firm has a market cap of $12.04 billion, a PE ratio of 15.34 and a beta of 1.61. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. Analysts forecast that Plains All American Pipeline will post 1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $28,000. ORG Partners LLC boosted its stake in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after buying an additional 730 shares during the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter worth approximately $35,000. Sunbelt Securities Inc. increased its stake in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,318 shares during the last quarter. Finally, American National Bank raised its holdings in Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after acquiring an additional 3,110 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.