Plains All American Pipeline (NYSE:PAA) Lowered to “Buy” at StockNews.com

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

Several other analysts have also issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday. Truist Financial upped their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Stifel Nicolaus upped their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup upped their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Scotiabank started coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $18.96.

Plains All American Pipeline Stock Down 1.4 %

PAA traded down $0.25 during trading hours on Tuesday, hitting $17.26. 6,695,210 shares of the company’s stock were exchanged, compared to its average volume of 3,365,786. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03. The stock’s 50-day moving average is $16.91 and its two-hundred day moving average is $15.91. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 12.42 and a beta of 1.59. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $14.30 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts predict that Plains All American Pipeline will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline during the first quarter worth about $28,000. Sunbelt Securities Inc. acquired a new stake in Plains All American Pipeline during the first quarter worth about $28,000. CENTRAL TRUST Co grew its stake in Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Plains All American Pipeline during the fourth quarter worth about $39,000. Finally, Clear Street Markets LLC acquired a new stake in Plains All American Pipeline during the fourth quarter worth about $45,000. 41.78% of the stock is owned by institutional investors.

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.