Todays Report: The Plains All American Pipeline L.P. (PAA) Price Target Increased to $36.00 by Analysts at Howard Weil

The Plains All American Pipeline L.P. (PAA) Price Target Increased to $36.00 by Analysts at Howard Weil

Plains All American Pipeline L.P. (NYSE:PAA) had its price objective raised by equities researchers at Howard Weil from $28.00 to $36.00 in a research note issued on Monday. The firm currently has a “sector outperform” rating on the stock. Howard Weil’s target price suggests a potential upside of 15.64% from the company’s previous close.

A number of other brokerages have also recently weighed in on PAA. Deutsche Bank AG upgraded shares of Plains All American Pipeline L.P. from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley raised shares of Plains All American Pipeline L.P. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $33.00 to $37.00 in a research report on Tuesday, October 4th. Wells Fargo & Co. raised shares of Plains All American Pipeline L.P. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 5th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $29.00 target price (up previously from $22.00) on shares of Plains All American Pipeline L.P. in a research report on Wednesday, August 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Plains All American Pipeline L.P. from $22.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 17th. Twenty-three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.86.

Shares of Plains All American Pipeline L.P. (NYSE:PAA) opened at 31.13 on Monday. The company has a market capitalization of $12.38 billion, a P/E ratio of 89.20 and a beta of 0.91. The company has a 50-day moving average of $29.14 and a 200 day moving average of $26.33. Plains All American Pipeline L.P. has a 12 month low of $14.82 and a 12 month high of $33.89.

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Plains All American Pipeline L.P. (NYSE:PAA) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Plains All American Pipeline L.P. had a net margin of 3.30% and a return on equity of 10.88%. The business earned $4.95 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the previous year, the company earned $0.27 earnings per share. Plains All American Pipeline L.P.’s revenue for the quarter was down 25.7% on a year-over-year basis. Analysts forecast that Plains All American Pipeline L.P. will post $1.03 EPS for the current year.

In other Plains All American Pipeline L.P. news, EVP John Vonberg sold 35,410 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $29.95, for a total transaction of $1,060,529.50. Following the transaction, the executive vice president now directly owns 122,359 shares in the company, valued at approximately $3,664,652.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO W David Duckett sold 17,333 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $29.76, for a total transaction of $515,830.08. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in Plains All American Pipeline L.P. by 62,110.3% in the first quarter. Bessemer Group Inc. now owns 1,045,133 shares of the company’s stock worth $21,916,000 after buying an additional 1,043,453 shares during the last quarter. LVW Advisors LLC increased its stake in shares of Plains All American Pipeline L.P. by 99.6% in the first quarter. LVW Advisors LLC now owns 99,253 shares of the company’s stock worth $2,081,000 after buying an additional 49,515 shares in the last quarter. ING Groep NV increased its stake in shares of Plains All American Pipeline L.P. by 151.0% in the first quarter. ING Groep NV now owns 6,804,128 shares of the company’s stock worth $142,410,000 after buying an additional 4,093,128 shares in the last quarter. BB&T Securities LLC increased its stake in shares of Plains All American Pipeline L.P. by 33.9% in the first quarter. BB&T Securities LLC now owns 14,553 shares of the company’s stock worth $305,000 after buying an additional 3,681 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Plains All American Pipeline L.P. by 19.0% in the first quarter. Rafferty Asset Management LLC now owns 88,326 shares of the company’s stock worth $1,852,000 after buying an additional 14,084 shares in the last quarter. Institutional investors own 65.95% of the company’s stock.

Plains All American Pipeline L.P. Company Profile

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