Plains All American Pipeline (NYSE:PAA) Stock Price Up 4.7% – Should You Buy?

Plains All American Pipeline, L.P. (NYSE:PAA)’s stock price traded up 4.7% during trading on Wednesday . The stock traded as high as $18.55 and last traded at $18.46. 970,842 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 3,452,345 shares. The stock had previously closed at $17.63.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PAA. Bank of America assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Trading Up 5.7 %

The stock has a 50 day moving average of $17.44 and a 200-day moving average of $17.66. The company has a market capitalization of $13.12 billion, a P/E ratio of 16.64 and a beta of 1.64. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of Plains All American Pipeline by 1.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after buying an additional 42,383 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after buying an additional 1,125,386 shares during the last quarter. Barclays PLC raised its position in shares of Plains All American Pipeline by 1.6% during the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after buying an additional 32,061 shares in the last quarter. Finally, ING Groep NV lifted its holdings in shares of Plains All American Pipeline by 29.1% in the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after acquiring an additional 297,937 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.