Scotiabank Forecasts Strong Price Appreciation for Plains All American Pipeline (NYSE:PAA) Stock

Plains All American Pipeline (NYSE:PAA) had its price objective increased by investment analysts at Scotiabank from $22.00 to $23.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a “sector outperform” rating on the pipeline company’s stock. Scotiabank’s target price would indicate a potential upside of 18.13% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target for the company. in a research report on Wednesday, January 28th. Barclays upped their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday. Mizuho set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, January 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $22.00 target price (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus target price of $21.09.

Plains All American Pipeline Stock Up 1.0%

PAA stock opened at $19.47 on Monday. Plains All American Pipeline has a one year low of $15.57 and a one year high of $20.77. The firm has a market cap of $13.74 billion, a PE ratio of 26.67 and a beta of 0.60. The firm’s 50 day moving average price is $18.49 and its 200-day moving average price is $17.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period last year, the firm posted $0.42 EPS. Plains All American Pipeline’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current year.

Institutional Trading of Plains All American Pipeline

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Plains All American Pipeline by 76.1% in the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 761 shares during the period. Mather Group LLC. acquired a new stake in Plains All American Pipeline in the 3rd quarter valued at about $33,000. Caldwell Trust Co purchased a new position in shares of Plains All American Pipeline in the 3rd quarter valued at about $38,000. Newbridge Financial Services Group Inc. grew its position in shares of Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock worth $41,000 after buying an additional 655 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth approximately $42,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.