Plains All American Pipeline (NYSE:PAA) had its price target reduced by equities research analysts at Royal Bank of Canada to $27.00 in a research report issued on Friday, The Fly reports. The firm currently has a “sector perform” rating on the pipeline company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 12.97% from the stock’s current price.
PAA has been the subject of a number of other reports. ValuEngine cut shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $28.20.
PAA stock opened at $23.90 on Friday. The stock has a market capitalization of $16.97 billion, a P/E ratio of 12.71 and a beta of 1.00. Plains All American Pipeline has a 12-month low of $19.33 and a 12-month high of $27.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 1.02.
Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Tuesday, May 7th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.77 billion. Plains All American Pipeline had a return on equity of 20.70% and a net margin of 8.51%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share. As a group, analysts expect that Plains All American Pipeline will post 2.12 earnings per share for the current year.
In other news, insider Emg Investment, Llc sold 8,179,284 shares of Plains All American Pipeline stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total value of $188,941,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PAA. M&T Bank Corp boosted its holdings in shares of Plains All American Pipeline by 14.8% in the 4th quarter. M&T Bank Corp now owns 55,861 shares of the pipeline company’s stock valued at $1,119,000 after buying an additional 7,195 shares during the period. BB&T Securities LLC boosted its stake in Plains All American Pipeline by 94.6% during the 4th quarter. BB&T Securities LLC now owns 48,306 shares of the pipeline company’s stock valued at $968,000 after purchasing an additional 23,483 shares during the period. Capital Investment Advisory Services LLC acquired a new position in Plains All American Pipeline during the 4th quarter valued at about $28,000. Infrastructure Capital Advisors LLC boosted its stake in Plains All American Pipeline by 0.7% during the 4th quarter. Infrastructure Capital Advisors LLC now owns 1,420,848 shares of the pipeline company’s stock valued at $28,474,000 after purchasing an additional 9,820 shares during the period. Finally, Portfolio Solutions LLC acquired a new position in Plains All American Pipeline during the 4th quarter valued at about $36,000. 48.43% of the stock is owned by institutional investors and hedge funds.
Plains All American Pipeline Company Profile
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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