Plains All American Pipeline (NYSE:PAA) Rating Lowered to Buy at StockNews.com

Plains All American Pipeline (NYSE:PAA) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Several other equities research analysts have also issued reports on the stock. Citigroup raised their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. Stifel Nicolaus raised their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank began coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price for the company. The Goldman Sachs Group raised their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Truist Financial raised their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Price Performance

PAA stock opened at $17.36 on Tuesday. Plains All American Pipeline has a 52 week low of $12.07 and a 52 week high of $19.03. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $16.95 and a two-hundred day simple moving average of $15.92. The firm has a market capitalization of $12.17 billion, a P/E ratio of 12.49 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter last year, the business earned $0.33 earnings per share. Plains All American Pipeline’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Plains All American Pipeline will post 1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in shares of Plains All American Pipeline in the 1st quarter worth approximately $28,000. CENTRAL TRUST Co grew its position in shares of Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth approximately $39,000. Finally, Clear Street Markets LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors 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.