Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $25.00

Plains All American Pipeline (NASDAQ:PAA) had its price objective boosted by Wells Fargo & Company from $23.00 to $25.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.47% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Wall Street Zen cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James Financial reissued a “strong-buy” rating and issued a $28.00 price objective on shares of Plains All American Pipeline in a research report on Monday, October 19th. Royal Bank Of Canada lifted their price objective on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, August 17th. Finally, UBS Group boosted their price objective on shares of Plains All American Pipeline from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.20.

Plains All American Pipeline Stock Up 0.1%

NASDAQ:PAA opened at $23.70 on Wednesday. Plains All American Pipeline has a twelve month low of $16.50 and a twelve month high of $26.98. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 8.36 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $25.15 and its two-hundred day moving average price is $22.99.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.44). The company had revenue of $15.17 billion during the quarter. Plains All American Pipeline had a net margin of 4.81% and a return on equity of 12.70%. The company’s revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities research analysts expect that Plains All American Pipeline will post 1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PAA. NEOS Investment Management LLC raised its stake in Plains All American Pipeline by 34.6% in the 2nd quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock valued at $17,250,000 after acquiring an additional 199,296 shares during the period. DV Trading LLC lifted its holdings in Plains All American Pipeline by 148.1% during the 1st quarter. DV Trading LLC now owns 82,454 shares of the company’s stock valued at $1,841,000 after purchasing an additional 49,221 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in Plains All American Pipeline during the first quarter worth $16,819,000. Tidal Investments LLC boosted its position in Plains All American Pipeline by 754.8% during the second quarter. Tidal Investments LLC now owns 87,636 shares of the company’s stock worth $1,951,000 after purchasing an additional 77,384 shares during the period. Finally, Hengehold Capital Management LLC boosted its position in Plains All American Pipeline by 56.7% during the third quarter. Hengehold Capital Management LLC now owns 171,879 shares of the company’s stock worth $4,077,000 after purchasing an additional 62,188 shares during the period. 41.78% of the stock is currently owned by institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company’s systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.