Plains All American Pipeline (NYSE:PAA) PT Raised to $13.00 at Royal Bank of Canada

Plains All American Pipeline (NYSE:PAAGet Rating) had its target price hoisted by investment analysts at Royal Bank of Canada from $12.00 to $13.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 11.02% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Bank of America raised shares of Plains All American Pipeline from an “underperform” rating to a “neutral” rating and set a $12.00 target price for the company in a report on Tuesday, July 19th. Seaport Res Ptn raised Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, August 1st. UBS Group upped their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Morgan Stanley lifted their price target on shares of Plains All American Pipeline from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. Finally, StockNews.com upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.38.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $11.71 on Wednesday. The firm has a 50 day simple moving average of $10.57 and a 200 day simple moving average of $10.80. Plains All American Pipeline has a fifty-two week low of $8.64 and a fifty-two week high of $12.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.89. The firm has a market cap of $8.26 billion, a P/E ratio of 14.28 and a beta of 1.79.

Plains All American Pipeline (NYSE:PAAGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.50% and a net margin of 1.36%. During the same quarter last year, the firm earned $0.23 EPS. Sell-side analysts predict that Plains All American Pipeline will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Plains All American Pipeline

In other Plains All American Pipeline news, Director Kevin S. Mccarthy purchased 200,000 shares of the business’s stock in a transaction on Thursday, June 23rd. The stock was acquired at an average price of $9.81 per share, with a total value of $1,962,000.00. Following the acquisition, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $1,962,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its holdings in Plains All American Pipeline by 3.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 85,026 shares of the pipeline company’s stock valued at $794,000 after acquiring an additional 2,839 shares during the last quarter. CWM LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth about $53,000. Qube Research & Technologies Ltd purchased a new stake in shares of Plains All American Pipeline during the fourth quarter valued at approximately $95,000. Advisor Group Holdings Inc. increased its holdings in Plains All American Pipeline by 11.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 179,339 shares of the pipeline company’s stock worth $1,676,000 after buying an additional 18,781 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Plains All American Pipeline by 13.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 376,012 shares of the pipeline company’s stock valued at $3,512,000 after purchasing an additional 43,154 shares during the period. Institutional investors own 45.58% of the company’s stock.

About Plains All American Pipeline

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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 NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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