Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.10.

A number of brokerages have weighed in on PAA. UBS Group lifted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Morgan Stanley lifted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Wednesday, September 4th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $28,000. ORG Partners LLC raised its position in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares during the last quarter. Evermay Wealth Management LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $35,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth approximately $46,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $17.62 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 52-week low of $14.25 and a 52-week high of $19.17. The business’s 50-day moving average price is $17.62 and its 200 day moving average price is $17.65. The firm has a market cap of $12.35 billion, a P/E ratio of 15.19 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $12.32 billion. During the same quarter last year, the company posted $0.25 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Plains All American Pipeline will post 1.3 earnings per share for the current year.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.