Plains All American Pipeline (NYSE:PAA) Rating Increased to Outperform at Wolfe Research

Plains All American Pipeline (NYSE:PAA) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Friday,Briefing.com Automated Import reports. The firm presently has a $22.00 target price on the pipeline company’s stock. Wolfe Research’s target price would suggest a potential upside of 17.46% from the stock’s current price.

PAA has been the topic of a number of other reports. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America initiated coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Plains All American Pipeline Stock Up 6.2 %

Shares of NYSE:PAA opened at $18.73 on Friday. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 16.72 and a beta of 1.64. The company has a 50 day moving average of $17.53 and a two-hundred day moving average of $17.67. Plains All American Pipeline has a 52-week low of $15.02 and a 52-week high of $19.17. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the business earned $0.35 EPS. The business’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Plains All American Pipeline will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in Plains All American Pipeline in the third quarter valued at approximately $27,000. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the 3rd quarter valued at approximately $28,000. Sunbelt Securities Inc. grew its stake in Plains All American Pipeline by 53.2% during the 2nd 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. Brown Brothers Harriman & Co. increased its position in Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after buying an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after buying an additional 856 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.