Plains All American Pipeline (NYSE:PAA) Price Target Cut to $22.00 by Analysts at Scotiabank

Plains All American Pipeline (NYSE:PAA - Get Free Report) had its target price cut by analysts at Scotiabank from $23.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the pipeline company's stock. Scotiabank's price objective suggests a potential upside of 13.70% from the company's current price.

Several other analysts have also recently weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Raymond James boosted their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Barclays boosted their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Finally, Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.14.

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Plains All American Pipeline Trading Up 1.8 %

NYSE:PAA traded up $0.35 on Thursday, hitting $19.35. 3,306,913 shares of the stock were exchanged, compared to its average volume of 4,303,884. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 26.51 and a beta of 1.62. Plains All American Pipeline has a 52 week low of $16.21 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company's 50-day moving average price is $19.53 and its 200 day moving average price is $18.20.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently modified their holdings of PAA. US Bancorp DE grew its position in shares of Plains All American Pipeline by 2.2% in the 3rd quarter. US Bancorp DE now owns 125,389 shares of the pipeline company's stock valued at $2,178,000 after purchasing an additional 2,658 shares during the period. Janney Montgomery Scott LLC lifted its stake in Plains All American Pipeline by 8.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 90,900 shares of the pipeline company's stock valued at $1,579,000 after acquiring an additional 6,921 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Plains All American Pipeline in the 3rd quarter valued at approximately $4,597,000. Lindbrook Capital LLC lifted its stake in Plains All American Pipeline by 15.6% in the 3rd quarter. Lindbrook Capital LLC now owns 90,388 shares of the pipeline company's stock valued at $1,570,000 after acquiring an additional 12,207 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Plains All American Pipeline by 6.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 46,610 shares of the pipeline company's stock valued at $810,000 after acquiring an additional 2,731 shares in the last quarter. 41.78% of the stock is currently 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.