Wells Fargo & Company Boosts Plains All American Pipeline (NYSE:PAA) Price Target to $21.00

Plains All American Pipeline (NYSE:PAA) had its price objective raised by equities research analysts at Wells Fargo & Company from $20.00 to $21.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.86% from the stock’s previous close.

A number of other research firms have also weighed in on PAA. Bank of America lowered shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Wednesday, January 28th. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 23rd. Barclays boosted their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday. Raymond James Financial restated a “strong-buy” rating and issued a $22.00 target price (down from $24.00) on shares of Plains All American Pipeline in a research note on Friday, October 24th. Finally, Morgan Stanley raised their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.09.

Plains All American Pipeline Stock Up 1.0%

PAA stock opened at $19.47 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline has a 12 month low of $15.57 and a 12 month high of $20.77. The company has a fifty day moving average price of $18.49 and a 200 day moving average price of $17.63. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 26.67 and a beta of 0.60.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $0.42 EPS. Plains All American Pipeline’s revenue was down 12.2% compared to the same quarter last year. Sell-side analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 761 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Plains All American Pipeline during the third quarter worth $33,000. Caldwell Trust Co bought a new stake in Plains All American Pipeline in the third quarter valued at about $38,000. Newbridge Financial Services Group Inc. lifted its stake in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after buying an additional 655 shares during the period. Finally, Aventura Private Wealth LLC bought a new position in Plains All American Pipeline during the fourth quarter worth about $42,000. 41.78% of the stock is owned by institutional investors.

About Plains All American Pipeline

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.