Barclays Forecasts Strong Price Appreciation for Plains All American Pipeline (NYSE:PAA) Stock

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its price target raised by investment analysts at Barclays from $18.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the pipeline company's stock. Barclays's price objective suggests a potential downside of 5.28% from the stock's previous close.

PAA has been the subject of a number of other reports. Scotiabank reissued a "sector outperform" rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Bank of America assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a "neutral" rating and a $18.00 price objective for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.92.

Plains All American Pipeline Trading Down 0.5 %

NYSE:PAA traded down $0.10 during trading hours on Thursday, hitting $20.06. The stock had a trading volume of 3,015,093 shares, compared to its average volume of 4,658,052. The business's 50 day moving average is $17.81 and its 200-day moving average is $17.74. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 17.91 and a beta of 1.64. Plains All American Pipeline has a one year low of $15.02 and a one year high of $20.35. 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 (NYSE:PAA - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS 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 analysts' expectations of $13.09 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently bought and sold shares of PAA. Stifel Financial Corp lifted its position in shares of Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company's stock valued at $4,008,000 after buying an additional 54,111 shares during the last quarter. FMR LLC lifted its holdings in Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company's stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. Syntax Research Inc. bought a new position in Plains All American Pipeline during the third quarter worth $1,742,000. International Assets Investment Management LLC increased its holdings in shares of Plains All American Pipeline by 1,006.4% in the third quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company's stock valued at $1,164,000 after purchasing an additional 60,979 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company's stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the period. Institutional investors 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.