StockNews.com Upgrades Plains All American Pipeline (NYSE:PAA) to “Strong-Buy”

Plains All American Pipeline (NYSE:PAA) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Several other research firms have also recently weighed in on PAA. The Goldman Sachs Group upped their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Truist Financial raised their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Scotiabank assumed coverage on Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. Finally, Citigroup increased their target price 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Plains All American Pipeline presently has an average rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Stock Up 0.8 %

PAA stock opened at $18.05 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The stock has a market capitalization of $12.65 billion, a P/E ratio of 12.99 and a beta of 1.59. The business has a 50-day moving average of $17.14 and a 200-day moving average of $16.02. Plains All American Pipeline has a fifty-two week low of $12.07 and a fifty-two week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. Plains All American Pipeline’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, sell-side analysts anticipate that Plains All American Pipeline will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. lifted its holdings in Plains All American Pipeline by 14.3% during the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after buying an additional 8,406,683 shares during the period. Blackstone Inc. raised its position in shares of Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock worth $371,771,000 after acquiring an additional 13,787,485 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Plains All American Pipeline by 9.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after acquiring an additional 1,135,737 shares in the last quarter. UBS Group AG raised its position in shares of Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock worth $129,630,000 after acquiring an additional 4,035,328 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its position in shares of Plains All American Pipeline by 1.8% in the 4th quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock worth $59,557,000 after acquiring an additional 68,810 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

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.