Royal Bank Of Canada Increases Plains All American Pipeline (NYSE:PAA) Price Target to $21.00

Plains All American Pipeline (NYSE:PAA) had its price objective increased by equities researchers at Royal Bank Of Canada from $20.00 to $21.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the pipeline company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 2.09% from the stock’s previous close.

Several other analysts have also weighed in on PAA. Raymond James Financial reiterated a “strong-buy” rating and set a $22.00 target price (down previously from $24.00) on shares of Plains All American Pipeline in a research note on Friday, October 24th. Mizuho set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 23rd. 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 on the stock. in a research note on Wednesday, January 28th. Citigroup lifted their target price on Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Finally, UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.18.

Plains All American Pipeline Stock Up 0.7%

Shares of Plains All American Pipeline stock opened at $20.57 on Tuesday. The business has a 50-day moving average price of $18.80 and a 200 day moving average price of $17.71. Plains All American Pipeline has a fifty-two week low of $15.57 and a fifty-two week high of $20.77. The firm has a market cap of $14.51 billion, a P/E ratio of 28.18 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, February 6th. The pipeline company reported $0.17 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 period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, sell-side analysts forecast that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. acquired a new stake in Plains All American Pipeline in the third quarter worth about $33,000. Caldwell Trust Co bought a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $38,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 655 shares during the period. Aventura Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $42,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Plains All American Pipeline by 468.7% in the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock valued at $44,000 after acquiring an additional 2,128 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

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.