Plains All American Pipeline (NYSE:PAA) Price Target Raised to $21.00 at Royal Bank Of Canada

Plains All American Pipeline (NYSE:PAA) had its target price upped by Royal Bank Of Canada from $20.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 2.91% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Citigroup raised their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Morgan Stanley boosted their target price on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research note on Wednesday, January 28th. Finally, Barclays lifted their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.18.

Plains All American Pipeline Stock Up 1.3%

PAA traded up $0.26 during trading on Tuesday, reaching $20.41. The stock had a trading volume of 1,303,133 shares, compared to its average volume of 3,869,830. 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 capitalization of $14.40 billion, a price-to-earnings ratio of 27.96 and a beta of 0.60. The stock’s 50 day moving average is $18.68 and its two-hundred day moving average is $17.67. Plains All American Pipeline has a one year low of $15.57 and a one year high of $20.77.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 6th. The pipeline company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently made changes to their positions in PAA. Mather Group LLC. bought a new position in Plains All American Pipeline in the third quarter worth approximately $33,000. Caldwell Trust Co bought a new position in Plains All American Pipeline in the 3rd quarter worth $38,000. Newbridge Financial Services Group Inc. lifted its position in Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 655 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in Plains All American Pipeline during the fourth quarter valued at about $42,000. Finally, Global Retirement Partners LLC increased its position in Plains All American Pipeline by 468.7% in the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock worth $44,000 after buying an additional 2,128 shares in the last quarter. 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. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.