Plains All American Pipeline (NYSE:PAA) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Plains All American Pipeline (NYSE:PAA) from a peer perform rating to an outperform rating in a report published on Thursday, Briefing.com Automated Import reports.

Separately, ValuEngine downgraded shares of Plains All American Pipeline from a hold rating to a sell rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $28.20.

PAA stock opened at $24.11 on Thursday. Plains All American Pipeline has a 52 week low of $19.33 and a 52 week high of $27.70. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 12.82 and a beta of 1.00. 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 released its earnings results on Tuesday, May 7th. The pipeline company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Plains All American Pipeline had a net margin of 8.51% and a return on equity of 20.70%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts expect that Plains All American Pipeline will post 2.12 EPS for the current year.

In related news, insider Emg Investment, Llc sold 8,179,284 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total transaction of $188,941,460.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PAA. LSP Investment Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 4.0% during the fourth quarter. LSP Investment Advisors LLC now owns 1,188,797 shares of the pipeline company’s stock valued at $23,823,000 after purchasing an additional 45,685 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Plains All American Pipeline by 7.4% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,882,509 shares of the pipeline company’s stock valued at $779,205,000 after purchasing an additional 2,663,930 shares in the last quarter. Holistic Financial Partners bought a new position in shares of Plains All American Pipeline during the first quarter valued at $394,000. RR Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 0.9% during the first quarter. RR Advisors LLC now owns 2,114,000 shares of the pipeline company’s stock valued at $51,809,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Stephens Inc. AR increased its position in Plains All American Pipeline by 5.6% during the first quarter. Stephens Inc. AR now owns 124,399 shares of the pipeline company’s stock valued at $3,049,000 after acquiring an additional 6,631 shares during the last quarter. 48.43% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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