Analysts Set Plains All American Pipeline, L.P. (NYSE:PAA) Price Target at $20.50

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been assigned an average rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.36.

PAA has been the subject of several recent analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 16th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Scotiabank cut their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. upped their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th.

Plains All American Pipeline Stock Performance

PAA stock opened at $18.08 on Friday. 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 firm has a market cap of $12.72 billion, a P/E ratio of 24.77 and a beta of 0.66. Plains All American Pipeline has a 12-month low of $15.58 and a 12-month high of $21.00. The stock’s 50 day simple moving average is $17.41 and its 200 day simple moving average is $18.42.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. As a group, equities research analysts predict that Plains All American Pipeline will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its position in Plains All American Pipeline by 5.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company’s stock worth $1,127,000 after purchasing an additional 2,891 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after acquiring an additional 3,368 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 657 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Plains All American Pipeline by 61.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company’s stock valued at $1,521,000 after acquiring an additional 28,916 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Plains All American Pipeline during the 1st quarter valued at about $302,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.