Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $22.00

Plains All American Pipeline (NASDAQ:PAA) had its target price lifted by equities researchers at Wells Fargo & Company from $21.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 3.55% from the company’s previous close.

A number of other analysts have also weighed in on the company. Zacks Research lowered Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Bank of America lowered Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target for the company. in a research report on Wednesday, January 28th. Stifel Nicolaus upped their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Plains All American Pipeline in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.58.

Plains All American Pipeline Trading Up 0.2%

Shares of PAA traded up $0.04 during trading hours on Friday, reaching $21.25. 483,225 shares of the company traded hands, compared to its average volume of 3,751,426. The stock has a fifty day moving average of $19.90. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 3.42 and a beta of 0.59. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $22.29.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share.

Institutional Investors Weigh In On Plains All American Pipeline

A number of large investors have recently bought and sold shares of PAA. World Investment Advisors raised its position in Plains All American Pipeline by 7.2% during the 4th quarter. World Investment Advisors now owns 21,542 shares of the company’s stock worth $387,000 after buying an additional 1,442 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of Plains All American Pipeline by 222.8% in the 4th quarter. Virtu Financial LLC now owns 71,679 shares of the company’s stock valued at $1,287,000 after acquiring an additional 49,477 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Plains All American Pipeline by 8.3% in the fourth quarter. Sunbelt Securities Inc. now owns 33,569 shares of the company’s stock worth $603,000 after acquiring an additional 2,563 shares during the period. Claris Financial LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter worth $280,000. Finally, Invesco Ltd. raised its holdings in shares of Plains All American Pipeline by 0.7% during the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock worth $601,818,000 after purchasing an additional 228,106 shares during 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 (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.