Analysts Set Plains All American Pipeline, L.P. (NYSE:PAA) PT at $19.82

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.82.

Several research firms have recently weighed in on PAA. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, 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 target price on the stock.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Plains All American Pipeline by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 139,230 shares of the pipeline company’s stock valued at $2,487,000 after purchasing an additional 2,203 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Plains All American Pipeline by 2.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 128,301 shares of the pipeline company’s stock worth $2,291,000 after acquiring an additional 2,759 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Plains All American Pipeline by 28.6% during the 2nd quarter. Van ECK Associates Corp now owns 106,167 shares of the pipeline company’s stock worth $1,896,000 after acquiring an additional 23,611 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Plains All American Pipeline by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after acquiring an additional 927 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in shares of Plains All American Pipeline by 0.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 0.3 %

Shares of NYSE PAA opened at $17.63 on Friday. The stock has a market cap of $12.41 billion, a P/E ratio of 15.74 and a beta of 1.64. The firm has a 50 day moving average price of $17.44 and a two-hundred day moving average price of $17.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a 52-week low of $15.02 and a 52-week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. As a group, equities analysts forecast that Plains All American Pipeline will post 1.24 EPS for the current year.

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.