Plains All American Pipeline (NYSE:PAA) PT Raised to $16.00

Plains All American Pipeline (NYSE:PAAGet Free Report) had its price target increased by The Goldman Sachs Group from $14.50 to $16.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “sell” rating on the pipeline company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 9.86% from the stock’s previous close.

Several other research firms have also recently commented on PAA. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Citigroup upped their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Scotiabank assumed coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Finally, Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.68.

Read Our Latest Analysis on Plains All American Pipeline

Plains All American Pipeline Price Performance

PAA stock opened at $17.75 on Friday. The company has a market capitalization of $12.44 billion, a P/E ratio of 12.77 and a beta of 1.59. Plains All American Pipeline has a twelve month low of $12.07 and a twelve month high of $19.03. The business has a 50 day simple moving average of $16.82 and a 200-day simple moving average of $15.87. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAAGet Free Report) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Plains All American Pipeline will post 1.25 EPS for the current year.

Institutional Trading of Plains All American Pipeline

Several large investors have recently bought and sold shares of PAA. Moneta Group Investment Advisors LLC boosted its stake in shares of Plains All American Pipeline by 109,124.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 46,409,609 shares of the pipeline company’s stock valued at $545,777,000 after acquiring an additional 46,367,119 shares during the last quarter. Blackstone Inc. boosted its stake in shares of Plains All American Pipeline by 131.6% during the third quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock valued at $371,771,000 after acquiring an additional 13,787,485 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Plains All American Pipeline by 14.3% during the third quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock valued at $1,026,923,000 after acquiring an additional 8,406,683 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Plains All American Pipeline by 38.9% during the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock valued at $187,388,000 after acquiring an additional 4,880,244 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Plains All American Pipeline by 89.3% during the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after acquiring an additional 4,035,328 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

(Get Free Report)

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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