Morgan Stanley Forecasts Strong Price Appreciation for Plains All American Pipeline (NASDAQ:PAA) Stock

Plains All American Pipeline (NASDAQ:PAA) had its target price boosted by equities research analysts at Morgan Stanley from $21.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 5.70% from the company’s previous close.

PAA has been the subject of several other reports. Wall Street Zen cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. Bank of America downgraded Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a report on Wednesday, January 28th. Citigroup boosted their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Plains All American Pipeline in a report on Monday, December 29th. Finally, Royal Bank Of Canada raised their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus target price of $21.75.

Plains All American Pipeline Stock Up 0.8%

NASDAQ PAA opened at $21.76 on Wednesday. The stock has a market capitalization of $15.35 billion, a PE ratio of 13.11, a P/E/G ratio of 3.43 and a beta of 0.59. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $22.29. The business’s 50-day moving average price is $20.23. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. During the same period in the previous year, the business posted $0.42 earnings per share. The company’s revenue was down 12.2% on a year-over-year basis.

Institutional Trading of Plains All American Pipeline

Large investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth $87,462,000. Goldman Sachs Group Inc. increased its holdings in Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares in the last quarter. Invesco Ltd. increased its holdings in Plains All American Pipeline by 10.1% during the 2nd quarter. Invesco Ltd. now owns 32,602,733 shares of the company’s stock valued at $597,282,000 after acquiring an additional 3,003,351 shares in the last quarter. Morgan Stanley raised its position in Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after acquiring an additional 2,833,161 shares during the last quarter. Finally, Berkley W R Corp acquired a new position in Plains All American Pipeline during the third quarter worth about $32,871,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.