Plains All American Pipeline (PAA) Raised to “Overweight” at Morgan Stanley

Plains All American Pipeline (NYSE:PAA) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, MarketBeat reports. The firm currently has a $26.00 price target on the pipeline company’s stock. Morgan Stanley’s price target would suggest a potential upside of 14.24% from the company’s previous close.

A number of other analysts have also commented on the stock. Bank of America lowered their target price on shares of Plains All American Pipeline from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Robert W. Baird set a $22.00 target price on shares of Plains All American Pipeline and gave the stock a “hold” rating in a report on Wednesday, February 7th. Seaport Global Securities raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $25.00 in a report on Thursday, February 8th. Stifel Nicolaus reaffirmed a “hold” rating and set a $24.00 target price (up previously from $22.00) on shares of Plains All American Pipeline in a report on Thursday, February 8th. Finally, Barclays lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and set a $26.00 target price for the company. in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.79.

Shares of Plains All American Pipeline (NYSE PAA) opened at $22.76 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. Plains All American Pipeline has a fifty-two week low of $18.38 and a fifty-two week high of $33.01. The company has a market cap of $16,510.00, a price-to-earnings ratio of 24.74 and a beta of 0.87.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Tuesday, February 6th. The pipeline company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). Plains All American Pipeline had a return on equity of 9.93% and a net margin of 3.26%. The business had revenue of $7.61 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm posted $0.37 EPS. Plains All American Pipeline’s revenue was up 27.8% on a year-over-year basis. equities analysts forecast that Plains All American Pipeline will post 1.3 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in Plains All American Pipeline by 5.1% in the 2nd quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after purchasing an additional 223 shares during the period. Allianz Asset Management GmbH boosted its stake in Plains All American Pipeline by 71.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 90,824 shares of the pipeline company’s stock worth $1,925,000 after purchasing an additional 37,901 shares during the period. Center Coast Capital Advisors LP boosted its stake in Plains All American Pipeline by 13.0% in the 3rd quarter. Center Coast Capital Advisors LP now owns 9,155,804 shares of the pipeline company’s stock worth $194,011,000 after purchasing an additional 1,056,634 shares during the period. Beacon Investment Advisory Services Inc. boosted its stake in Plains All American Pipeline by 100.0% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 75,500 shares of the pipeline company’s stock worth $1,600,000 after purchasing an additional 37,750 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Plains All American Pipeline by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 330,000 shares of the pipeline company’s stock worth $6,993,000 after purchasing an additional 7,000 shares during the period. 42.65% of the stock is owned by hedge funds and other institutional investors.

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About Plains All American Pipeline

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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