Morgan Stanley set a $28.00 price target on Plains All American Pipeline (NYSE:PAA) in a research report report published on Friday morning. The brokerage currently has a buy rating on the pipeline company’s stock.
PAA has been the subject of a number of other research reports. ValuEngine downgraded Plains All American Pipeline from a hold rating to a sell rating in a report on Tuesday, June 26th. Stifel Nicolaus lifted their target price on Plains All American Pipeline from $24.00 to $26.00 and gave the stock a hold rating in a report on Wednesday, August 8th. Bank of America raised Plains All American Pipeline from a neutral rating to a buy rating and set a $23.00 target price for the company in a report on Wednesday, July 18th. Johnson Rice began coverage on Plains All American Pipeline in a report on Thursday. They set a buy rating and a $31.00 target price for the company. Finally, SunTrust Banks reissued a buy rating and set a $29.00 target price on shares of Plains All American Pipeline in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $27.31.
PAA opened at $25.20 on Friday. Plains All American Pipeline has a fifty-two week low of $18.38 and a fifty-two week high of $27.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.63. The firm has a market cap of $18.46 billion, a PE ratio of 26.81, a PEG ratio of 2.01 and a beta of 0.81.
Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, August 7th. The pipeline company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.15. Plains All American Pipeline had a return on equity of 12.80% and a net margin of 2.04%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.18 billion. sell-side analysts predict that Plains All American Pipeline will post 1.62 EPS for the current year.
In related news, VP Chris Herbold sold 10,591 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $26.35, for a total value of $279,072.85. Following the completion of the transaction, the vice president now owns 34,227 shares of the company’s stock, valued at $901,881.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of PAA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Plains All American Pipeline in the second quarter valued at about $179,640,000. Brookfield Asset Management Inc. raised its stake in Plains All American Pipeline by 236.3% in the first quarter. Brookfield Asset Management Inc. now owns 9,103,919 shares of the pipeline company’s stock valued at $200,560,000 after purchasing an additional 6,397,059 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Plains All American Pipeline by 2,527.0% in the first quarter. Summit Trail Advisors LLC now owns 4,061,452 shares of the pipeline company’s stock valued at $4,061,000 after purchasing an additional 3,906,847 shares in the last quarter. Alps Advisors Inc. raised its stake in Plains All American Pipeline by 5.8% in the second quarter. Alps Advisors Inc. now owns 35,094,693 shares of the pipeline company’s stock valued at $829,639,000 after purchasing an additional 1,910,142 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Plains All American Pipeline by 71.3% during the first quarter. BlackRock Inc. now owns 4,251,747 shares of the pipeline company’s stock worth $93,666,000 after acquiring an additional 1,769,523 shares in the last quarter. 46.00% of the stock is owned by institutional investors and hedge funds.
About Plains All American Pipeline
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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