Plains All American Pipeline (NYSE:PAA) Upgraded to Strong-Buy at StockNews.com

Plains All American Pipeline (NYSE:PAA) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Other equities analysts also recently issued research reports about the stock. Citigroup lifted their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Truist Financial upped their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Plains All American Pipeline Stock Down 1.5 %

Shares of PAA stock traded down $0.26 on Friday, hitting $17.11. The stock had a trading volume of 2,987,330 shares, compared to its average volume of 3,067,052. The business has a 50 day moving average of $16.14 and a 200 day moving average of $15.58. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 12.31 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a 12-month low of $11.28 and a 12-month high of $17.42.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts expect that Plains All American Pipeline will post 1.24 EPS for the current year.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in Plains All American Pipeline during the 1st quarter worth approximately $28,000. CENTRAL TRUST Co lifted its holdings in shares of Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Plains All American Pipeline during the 4th quarter worth $39,000. Clear Street Markets LLC purchased a new position in Plains All American Pipeline in the fourth quarter worth $45,000. Finally, Scarborough Advisors LLC purchased a new position in Plains All American Pipeline in the fourth quarter worth $46,000. Institutional investors own 41.13% of the company’s stock.

About Plains All American Pipeline

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