Plains All American Pipeline's (PAA) Sector Perform Rating Reiterated at Royal Bank of Canada

Plains All American Pipeline (NYSE:PAA - Get Free Report)'s stock had its "sector perform" rating restated by investment analysts at Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They presently have a $19.00 target price on the pipeline company's stock. Royal Bank of Canada's price target points to a potential upside of 10.66% from the company's current price.

Other equities analysts also recently issued reports about the company. Morgan Stanley downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a "neutral" rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Plains All American Pipeline presently has an average rating of "Hold" and a consensus price target of $19.82.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded up $0.03 during midday trading on Friday, reaching $17.17. 1,473,444 shares of the company's stock were exchanged, compared to its average volume of 2,763,985. Plains All American Pipeline has a 52 week low of $14.46 and a 52 week high of $19.17. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 15.33 and a beta of 1.61. The stock's 50-day simple moving average is $17.34 and its 200 day simple moving average is $17.53. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The business had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business's revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. On average, analysts expect that Plains All American Pipeline will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently modified their holdings of the business. Morse Asset Management Inc raised its holdings in Plains All American Pipeline by 12.7% in the 3rd quarter. Morse Asset Management Inc now owns 45,350 shares of the pipeline company's stock valued at $788,000 after buying an additional 5,100 shares during the period. Captrust Financial Advisors boosted its position in shares of Plains All American Pipeline by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 64,220 shares of the pipeline company's stock worth $1,115,000 after purchasing an additional 4,583 shares during the period. Rockefeller Capital Management L.P. raised its position in Plains All American Pipeline by 2.4% in the third quarter. Rockefeller Capital Management L.P. now owns 159,443 shares of the pipeline company's stock valued at $2,770,000 after purchasing an additional 3,781 shares during the period. CreativeOne Wealth LLC acquired a new position in Plains All American Pipeline during the third quarter worth $193,000. Finally, Glenmede Trust Co. NA grew its stake in shares of Plains All American Pipeline by 7.3% in the third quarter. Glenmede Trust Co. NA now owns 279,030 shares of the pipeline company's stock valued at $4,847,000 after buying an additional 18,919 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.

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