Plains All American Pipeline, L.P. (PAA) Raised to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Plains All American Pipeline, L.P. (NYSE:PAA) from a market perform rating to an outperform rating in a research report released on Monday, August 28th, Marketbeat.com reports. The brokerage currently has $25.00 price target on the pipeline company’s stock.

Several other equities analysts also recently weighed in on PAA. Stifel Nicolaus cut their target price on Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a hold rating on the stock in a research report on Wednesday, May 10th. UBS AG reissued a buy rating and set a $33.00 target price (down previously from $34.00) on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, May 10th. Raymond James Financial, Inc. raised Plains All American Pipeline, L.P. from a market perform rating to an outperform rating and set a $32.00 target price on the stock in a research report on Monday, May 22nd. They noted that the move was a valuation call. Deutsche Bank AG cut their target price on Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a buy rating on the stock in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a hold rating and set a $27.00 target price on shares of Plains All American Pipeline, L.P. in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $29.23.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at 22.31 on Monday. The firm has a market cap of $16.17 billion, a PE ratio of 17.21 and a beta of 0.99. The firm has a 50-day moving average of $22.25 and a 200-day moving average of $26.88. Plains All American Pipeline, L.P. has a 52 week low of $18.82 and a 52 week high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the firm earned ($0.12) EPS. The business’s revenue was up 22.8% compared to the same quarter last year. On average, analysts expect that Plains All American Pipeline, L.P. will post $1.56 EPS for the current year.

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Hedge funds have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its holdings in shares of Plains All American Pipeline, L.P. by 2.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 381,800 shares of the pipeline company’s stock valued at $12,069,000 after purchasing an additional 9,300 shares during the period. Rothschild Investment Corp IL increased its holdings in shares of Plains All American Pipeline, L.P. by 3.1% in the second quarter. Rothschild Investment Corp IL now owns 99,975 shares of the pipeline company’s stock valued at $2,626,000 after purchasing an additional 3,050 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Plains All American Pipeline, L.P. by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,872,670 shares of the pipeline company’s stock worth $101,735,000 after acquiring an additional 19,466 shares during the period. Bollard Group LLC grew its holdings in Plains All American Pipeline, L.P. by 2.0% during the second quarter. Bollard Group LLC now owns 333,220 shares of the pipeline company’s stock worth $8,754,000 after acquiring an additional 6,461 shares during the period. Finally, Bridges Investment Counsel Inc. grew its holdings in Plains All American Pipeline, L.P. by 131.4% during the second quarter. Bridges Investment Counsel Inc. now owns 31,141 shares of the pipeline company’s stock worth $818,000 after acquiring an additional 17,685 shares during the period. 42.08% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

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