Scotiabank Reiterates “Sector Outperform” Rating for Plains All American Pipeline (NYSE:PAA)

Plains All American Pipeline (NYSE:PAA)‘s stock had its “sector outperform” rating restated by equities research analysts at Scotiabank in a research report issued on Friday, Marketbeat reports. They presently have a $23.00 target price on the pipeline company’s stock. Scotiabank’s price objective indicates a potential upside of 21.82% from the stock’s current price.

Several other research analysts also recently weighed in on PAA. 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 for the company. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price target 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 decreased their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $20.00.

Plains All American Pipeline Trading Up 0.8 %

Shares of NYSE:PAA opened at $18.88 on Friday. The company has a market capitalization of $13.29 billion, a PE ratio of 16.86 and a beta of 1.64. Plains All American Pipeline has a 12-month low of $15.02 and a 12-month high of $19.31. The business has a 50 day moving average of $17.58 and a two-hundred day moving average of $17.68. 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 quarterly earnings data 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 during 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%. The firm’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 earnings per share. As a group, analysts forecast that Plains All American Pipeline will post 1.24 EPS for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Axiom Advisory LLC grew its holdings in shares of Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. increased its position 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 acquiring an additional 856 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares during the period. Private Advisor Group LLC lifted its holdings 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 during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Plains All American Pipeline by 0.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after purchasing an additional 1,047 shares during the period. Institutional investors and hedge funds 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.