Plains All American Pipeline (NYSE:PAA) Given New $19.00 Price Target at Barclays

Plains All American Pipeline (NYSE:PAA) had its price target lifted by Barclays from $18.00 to $19.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the pipeline company’s stock. Barclays‘s price target indicates a potential downside of 5.38% from the company’s current price.

Several other analysts also recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Scotiabank restated a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, January 10th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.92.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded up $0.73 during midday trading on Thursday, hitting $20.08. The company’s stock had a trading volume of 1,825,847 shares, compared to its average volume of 4,475,826. Plains All American Pipeline has a 1-year low of $15.02 and a 1-year high of $20.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 17.93 and a beta of 1.64. The company has a 50-day moving average price of $17.67 and a two-hundred day moving average price of $17.70.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. Plains All American Pipeline’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Plains All American Pipeline will post 1.56 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at about $27,000. Future Financial Wealth Managment LLC bought a new stake in Plains All American Pipeline during the third quarter valued at about $28,000. Sunbelt Securities Inc. increased its holdings in shares of Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,318 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Plains All American Pipeline by 31.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the last quarter. Institutional investors 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.