Plains All American Pipeline (NASDAQ:PAA) Stock Bumped Up to “Strong-Buy” by Zacks Research

Plains All American Pipeline (NASDAQ:PAA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

A number of other analysts have also issued reports on the company. UBS Group lifted their target price on Plains All American Pipeline from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. Wall Street Zen downgraded Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Truist Financial raised their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Jefferies Financial Group lifted their price objective on Plains All American Pipeline from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Finally, Citigroup upped their target price on Plains All American Pipeline from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.07.

Plains All American Pipeline Trading Up 0.7%

PAA opened at $25.85 on Monday. The firm has a market capitalization of $18.24 billion, a P/E ratio of 16.15, a P/E/G ratio of 9.09 and a beta of 0.58. The firm’s 50 day moving average is $25.27 and its 200-day moving average is $22.86. Plains All American Pipeline has a 52-week low of $16.00 and a 52-week high of $26.98. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA) last posted its 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). The firm had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The company’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Analysts expect that Plains All American Pipeline will post 1.73 EPS for the current fiscal year.

Institutional Trading of Plains All American Pipeline

Several institutional investors have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON raised its stake in Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock worth $82,430,000 after acquiring an additional 2,992,549 shares during the period. Infrastructure Capital Advisors LLC boosted its position in Plains All American Pipeline by 4.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company’s stock worth $69,000,000 after acquiring an additional 130,164 shares during the period. Bollard Group LLC grew its position in Plains All American Pipeline by 7.7% in the 1st quarter. Bollard Group LLC now owns 1,215,856 shares of the company’s stock valued at $27,150,000 after buying an additional 86,602 shares in the last quarter. NEOS Investment Management LLC boosted its holdings in shares of Plains All American Pipeline by 34.6% in the second quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock valued at $17,250,000 after acquiring an additional 199,296 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter valued at $16,819,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.