Plains All American Pipeline, L.P. (PAA) Upgraded 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 report issued on Monday, August 28th, Marketbeat.com reports. They currently have $25.00 price target on the pipeline company’s stock.

Several other research firms have also weighed in on PAA. Raymond James Financial, Inc. upgraded 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 report on Monday, May 22nd. They noted that the move was a valuation call. UBS AG upgraded Plains All American Pipeline, L.P. from a market perform rating to an outperform rating in a report on Monday, May 22nd. Stifel Nicolaus cut their price target on Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a hold rating on the stock in a report on Wednesday, May 10th. Deutsche Bank AG cut their price target on Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a buy rating on the stock in a report on Tuesday, May 30th. Finally, Jefferies Group LLC restated a hold rating and issued a $28.00 price target (up from $27.00) on shares of Plains All American Pipeline, L.P. in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $29.23.

Shares of Plains All American Pipeline, L.P. (NYSE PAA) opened at 22.37 on Monday. The firm has a 50-day moving average price of $22.00 and a 200 day moving average price of $26.82. Plains All American Pipeline, L.P. has a 12-month low of $18.82 and a 12-month high of $33.95. The stock has a market cap of $16.21 billion, a PE ratio of 17.26 and a beta of 0.99.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.05). The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Equities research analysts predict that Plains All American Pipeline, L.P. will post $1.55 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. lifted its stake in Plains All American Pipeline, L.P. by 0.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 33,341,100 shares of the pipeline company’s stock worth $875,871,000 after purchasing an additional 255,459 shares during the last quarter. Alps Advisors Inc. lifted its stake in Plains All American Pipeline, L.P. by 4.9% during the second quarter. Alps Advisors Inc. now owns 30,612,374 shares of the pipeline company’s stock worth $804,187,000 after purchasing an additional 1,416,441 shares during the last quarter. Morgan Stanley lifted its stake in Plains All American Pipeline, L.P. by 37.2% during the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock worth $444,373,000 after purchasing an additional 3,808,889 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Plains All American Pipeline, L.P. by 0.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 10,982,925 shares of the pipeline company’s stock worth $347,165,000 after purchasing an additional 91,200 shares during the last quarter. Finally, UBS Group AG lifted its stake in Plains All American Pipeline, L.P. by 12.5% during the first quarter. UBS Group AG now owns 9,370,040 shares of the pipeline company’s stock worth $296,187,000 after purchasing an additional 1,038,051 shares during the last quarter. Hedge funds and other institutional investors own 42.08% of the company’s stock.

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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