Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00

Plains All American Pipeline (NYSE:PAA) had its price objective upped by stock analysts at Citigroup from $17.50 to $18.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. Citigroup’s price target would indicate a potential upside of 3.39% from the company’s current price.

PAA has been the subject of a number of other reports. UBS Group raised their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Scotiabank assumed coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price for the company. TD Securities raised their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday. StockNews.com downgraded Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.08.

Plains All American Pipeline Price Performance

PAA stock traded down $0.08 during midday trading on Monday, reaching $17.41. The stock had a trading volume of 1,821,021 shares, compared to its average volume of 3,436,524. The company’s fifty day simple moving average is $17.37 and its 200 day simple moving average is $16.15. 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 market cap of $12.21 billion, a price-to-earnings ratio of 14.97 and a beta of 1.58. Plains All American Pipeline has a 52-week low of $12.50 and a 52-week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. During the same quarter last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Plains All American Pipeline will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Institutional investors and hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the first quarter worth about $28,000. CENTRAL TRUST Co increased its stake in shares of 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 buying an additional 1,700 shares during the period. Fortitude Family Office LLC acquired a new position in Plains All American Pipeline in the fourth quarter valued at approximately $39,000. Scarborough Advisors LLC acquired a new position in Plains All American Pipeline in the fourth quarter valued at approximately $46,000. Finally, Briaud Financial Planning Inc acquired a new position in Plains All American Pipeline in the third quarter valued at approximately $58,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

About Plains All American Pipeline

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.