StockNews.com Upgrades Plains All American Pipeline (NYSE:PAA) to “Strong-Buy”

Plains All American Pipeline (NYSE:PAA) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also commented on the stock. UBS Group upped their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Truist Financial upped their price objective 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. Stifel Nicolaus upped their price objective 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, April 16th. Citigroup upped their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Scotiabank initiated 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 price target for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.96.

Plains All American Pipeline Stock Down 1.0 %

Shares of NYSE:PAA opened at $18.07 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $16.05. The firm has a market cap of $12.67 billion, a PE ratio of 13.00 and a beta of 1.59. Plains All American Pipeline has a 12-month low of $12.07 and a 12-month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share 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 firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in PAA. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline in the first quarter worth approximately $28,000. CENTRAL TRUST Co boosted its position in Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 1,700 shares during the period. Fortitude Family Office LLC bought a new stake in Plains All American Pipeline during the fourth quarter worth approximately $39,000. Scarborough Advisors LLC bought a new stake in Plains All American Pipeline during the fourth quarter worth approximately $46,000. Finally, Briaud Financial Planning Inc bought a new stake in Plains All American Pipeline during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.