Plains All American Pipeline (NASDAQ:PAA) Rating Increased to Hold at Zacks Research

Plains All American Pipeline (NASDAQ:PAA) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also weighed in on PAA. Barclays raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Truist Financial upped their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley raised their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Hold” and an average price target of $23.23.

Plains All American Pipeline Stock Performance

NASDAQ:PAA opened at $23.15 on Monday. The stock has a market capitalization of $16.33 billion, a P/E ratio of 6.41, a price-to-earnings-growth ratio of 7.81 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $25.03. The firm has a 50 day moving average of $23.01 and a 200-day moving average of $22.02.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.50% and a net margin of 5.29%.The business had revenue of $17.69 billion for the quarter. During the same quarter in the previous year, the business posted $0.36 EPS. Plains All American Pipeline’s revenue was up 66.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Plains All American Pipeline will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Americana Partners LLC boosted its stake in Plains All American Pipeline by 110.9% in the fourth quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock valued at $10,391,000 after acquiring an additional 304,247 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares during the last quarter. Longfellow Investment Management Co. LLC raised its position in shares of Plains All American Pipeline by 21.5% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock valued at $28,636,000 after acquiring an additional 281,609 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at $2,717,000. Finally, Manning & Napier Advisors LLC boosted its position in shares of Plains All American Pipeline by 33.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock worth $4,466,000 after purchasing an additional 50,000 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

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.