Plains All American Pipeline’s (PAA) “Sector Outperform” Rating Reiterated at Scotiabank

Plains All American Pipeline (NYSE:PAA)‘s stock had its “sector outperform” rating reaffirmed by investment analysts at Scotiabank in a research note issued to investors on Friday,Benzinga reports. They presently have a $23.00 target price on the pipeline company’s stock. Scotiabank’s price objective suggests a potential upside of 20.10% from the stock’s current price.

A number of other equities research analysts have also weighed in on PAA. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. 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 research note on Friday. Bank of America began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Morgan Stanley cut shares of 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 $19.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Plains All American Pipeline Stock Up 2.2 %

Shares of PAA traded up $0.42 during midday trading on Friday, reaching $19.15. 907,821 shares of the company were exchanged, compared to its average volume of 4,396,104. Plains All American Pipeline has a 1-year low of $15.02 and a 1-year high of $19.31. The stock has a 50-day moving average price of $17.53 and a 200-day moving average price of $17.67. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 17.10 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly 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 business had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Research analysts expect that Plains All American Pipeline will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Plains All American Pipeline during the third quarter valued at approximately $27,000. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the 3rd quarter worth $28,000. Sunbelt Securities Inc. grew its stake in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings 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 valued at $80,000 after purchasing an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 856 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

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.