Plains All American Pipeline (NASDAQ:PAA) Stock Rated “Buy” in New Coverage at Jefferies Financial Group

Equities researchers at Jefferies Financial Group started coverage on shares of Plains All American Pipeline (NASDAQ:PAA) in a research report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. Jefferies Financial Group’s price target suggests a potential upside of 10.57% from the company’s current price.

Several other analysts also recently weighed in on PAA. Raymond James Financial restated a “strong-buy” rating and set a $27.00 target price on shares of Plains All American Pipeline in a research note on Monday, September 21st. Weiss Ratings upgraded Plains All American Pipeline from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, September 29th. Barclays increased their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday, September 21st. Scotiabank raised their price objective on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Finally, Royal Bank Of Canada boosted their target price on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.53.

Plains All American Pipeline Stock Up 1.4%

Plains All American Pipeline stock opened at $24.42 on Friday. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 8.30 and a beta of 0.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. Plains All American Pipeline has a fifty-two week low of $15.69 and a fifty-two week high of $26.39. The firm has a fifty day moving average price of $24.62 and a two-hundred day moving average price of $23.29.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The firm had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. Plains All American Pipeline’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. As a group, analysts forecast that Plains All American Pipeline will post 1.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PAA. Avidian Wealth Enterprises LLC increased its holdings in Plains All American Pipeline by 75.3% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 51,972 shares of the company’s stock valued at $1,233,000 after buying an additional 22,326 shares during the period. Venture Visionary Partners LLC bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth about $493,000. Bullseye Investment Management LLC bought a new position in shares of Plains All American Pipeline during the 2nd quarter worth about $44,000. Tidal Investments LLC boosted its position in shares of Plains All American Pipeline by 754.8% during the 2nd quarter. Tidal Investments LLC now owns 87,636 shares of the company’s stock valued at $1,951,000 after acquiring an additional 77,384 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Plains All American Pipeline by 7.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $307,000 after acquiring an additional 905 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. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.