Plains All American Pipeline, L.P. (NYSE:PAA) Given Consensus Rating of “Hold” by Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been given a consensus recommendation of “Hold” by the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.82.

PAA has been the topic of a number of recent research reports. Bank of America began 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th.

Plains All American Pipeline Stock Up 0.3 %

NYSE:PAA opened at $17.38 on Friday. The firm has a market capitalization of $12.23 billion, a P/E ratio of 15.52 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company’s fifty day moving average price is $17.40 and its 200-day moving average price is $17.64. Plains All American Pipeline has a 1-year low of $15.02 and a 1-year high of $19.17.

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

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its stake 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 period. JPMorgan Chase & Co. grew its holdings in Plains All American Pipeline by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after buying an additional 2,677,951 shares during the period. Chickasaw Capital Management LLC grew its holdings in Plains All American Pipeline by 1.0% in the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock valued at $71,913,000 after purchasing an additional 42,383 shares during the period. Citigroup Inc. increased its position in Plains All American Pipeline by 48.9% during the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after purchasing an additional 1,125,386 shares during the last quarter. Finally, Barclays PLC grew its position in Plains All American Pipeline by 1.6% during the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after acquiring an additional 32,061 shares during the period. 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.