Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.82 Average Target Price from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has earned a consensus rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.82.

PAA has been the subject of a number of research reports. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after buying an additional 2,677,951 shares in the last quarter. Citigroup Inc. lifted its stake in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after purchasing an additional 1,125,386 shares during the last quarter. Acadian Asset Management LLC boosted its position in Plains All American Pipeline by 114.9% in the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after buying an additional 1,020,277 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Plains All American Pipeline during the third quarter worth $11,634,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Plains All American Pipeline by 241.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock worth $7,813,000 after buying an additional 317,927 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 0.3 %

Plains All American Pipeline stock opened at $17.63 on Friday. The stock has a 50-day simple moving average of $17.44 and a 200 day simple moving average of $17.66. The stock has a market capitalization of $12.41 billion, a P/E ratio of 15.74 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a 52 week low of $15.02 and a 52 week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect that Plains All American Pipeline will post 1.24 earnings per share for the current year.

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.