Plains All American Pipeline, L.P.’s (PAA) “Buy” Rating Reiterated at Citigroup Inc.

Plains All American Pipeline, L.P. (NYSE:PAA)‘s stock had its “buy” rating restated by investment analysts at Citigroup Inc. in a research note issued on Thursday. They presently have a $28.00 price target on the pipeline company’s stock, down from their previous price target of $33.50. Citigroup Inc.’s price target indicates a potential upside of 33.27% from the company’s current price.

A number of other research firms also recently issued reports on PAA. Guggenheim began coverage on Plains All American Pipeline, L.P. in a research report on Monday, April 17th. They set a “neutral” rating and a $28.00 price target on the stock. Wolfe Research reissued a “market perform” rating on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Macquarie reissued an “outperform” rating and set a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Jefferies Group LLC downgraded Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $27.00 in a research report on Friday, April 21st. Finally, Scotiabank reissued a “buy” rating and set a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Thursday, April 27th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.19.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) opened at 21.01 on Thursday. Plains All American Pipeline, L.P. has a one year low of $20.00 and a one year high of $33.95. The company has a market cap of $15.23 billion, a PE ratio of 19.53 and a beta of 0.95. The stock’s 50 day moving average is $25.66 and its 200-day moving average is $28.70.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. Plains All American Pipeline, L.P. had a return on equity of 10.46% and a net margin of 4.42%. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the company posted ($0.12) EPS. Plains All American Pipeline, L.P.’s quarterly revenue was up 22.8% compared to the same quarter last year. Equities research analysts expect that Plains All American Pipeline, L.P. will post $1.63 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. boosted its position in shares of Plains All American Pipeline, L.P. by 0.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 33,341,100 shares of the pipeline company’s stock valued at $875,871,000 after buying an additional 255,459 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Plains All American Pipeline, L.P. by 4.9% in the second quarter. Alps Advisors Inc. now owns 30,612,374 shares of the pipeline company’s stock valued at $804,187,000 after buying an additional 1,416,441 shares during the last quarter. Morgan Stanley boosted its position in shares of Plains All American Pipeline, L.P. by 37.2% in the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock valued at $444,373,000 after buying an additional 3,808,889 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Plains All American Pipeline, L.P. by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 10,982,925 shares of the pipeline company’s stock valued at $347,165,000 after buying an additional 91,200 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Plains All American Pipeline, L.P. by 12.5% in the first quarter. UBS Group AG now owns 9,370,040 shares of the pipeline company’s stock valued at $296,187,000 after buying an additional 1,038,051 shares during the last quarter. Institutional investors own 44.01% of the company’s stock.

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

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