Plains All American Pipeline (NYSE:PAA) Given New $22.00 Price Target at UBS Group

Plains All American Pipeline (NYSE:PAA) had its price target raised by UBS Group from $21.00 to $22.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. UBS Group’s price target suggests a potential upside of 16.40% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. The Goldman Sachs Group boosted their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Stifel Nicolaus boosted their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company boosted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Plains All American Pipeline Stock Performance

PAA opened at $18.90 on Tuesday. The firm has a market cap of $13.25 billion, a P/E ratio of 16.29 and a beta of 1.61. Plains All American Pipeline has a 1-year low of $13.88 and a 1-year high of $19.03. The company has a 50 day simple moving average of $17.30 and a two-hundred day simple moving average of $16.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Equities analysts forecast that Plains All American Pipeline will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently bought and sold shares of PAA. Eagle Bay Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter valued at $28,000. Evermay Wealth Management LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter valued at $35,000. Fortitude Family Office LLC purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $39,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.