Plains All American Pipeline (NYSE:PAA) Upgraded by Wolfe Research to Outperform Rating

Plains All American Pipeline (NYSE:PAA - Get Free Report) was upgraded by research analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a report released on Friday, MarketBeat reports. The firm presently has a $22.00 price target on the pipeline company's stock. Wolfe Research's price objective suggests a potential upside of 16.53% from the stock's current price.

A number of other analysts have also recently weighed in on PAA. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Bank of America started coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price for the company. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.00.

Plains All American Pipeline Trading Up 0.8 %

Shares of NYSE PAA traded up $0.15 during midday trading on Friday, reaching $18.88. 5,323,029 shares of the stock were exchanged, compared to its average volume of 5,182,820. The stock has a 50 day moving average price of $17.53 and a 200-day moving average price of $17.67. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $13.29 billion, a P/E ratio of 16.86 and a beta of 1.64. Plains All American Pipeline has a 52-week low of $15.02 and a 52-week high of $19.31.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted 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 company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the company posted $0.35 EPS. The company's quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Plains All American Pipeline will post 1.24 earnings per share for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Hedge funds have recently made changes to their positions in the stock. Axiom Advisory LLC raised its position in Plains All American Pipeline by 5.2% in the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company's stock worth $274,000 after acquiring an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company's stock worth $109,000 after purchasing an additional 856 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company's stock valued at $315,000 after purchasing an additional 887 shares during the period. Private Advisor Group LLC boosted its position in shares of Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company's stock worth $1,908,000 after buying an additional 927 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of Plains All American Pipeline by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company's stock valued at $4,580,000 after buying an additional 1,047 shares in the last quarter. 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.