Morgan Stanley Boosts Plains All American Pipeline (NASDAQ:PAA) Price Target to $26.00

Plains All American Pipeline (NASDAQ:PAA) had its target price lifted by Morgan Stanley from $25.00 to $26.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 8.58% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup upped their price target on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays raised their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Weiss Ratings downgraded shares of Plains All American Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Mizuho boosted their target price on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.54.

Plains All American Pipeline Price Performance

Shares of PAA stock traded up $0.20 during mid-day trading on Tuesday, hitting $23.95. 453,492 shares of the stock traded hands, compared to its average volume of 3,087,942. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $25.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The company’s 50-day simple moving average is $23.07 and its 200-day simple moving average is $22.14. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 8.27 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). The firm had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. As a group, equities research analysts expect that Plains All American Pipeline will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds have recently modified their holdings of the stock. Financial Life Planners purchased a new position in Plains All American Pipeline in the 1st quarter worth about $27,000. Allied Private Wealth LLC purchased a new stake in Plains All American Pipeline during the second quarter valued at about $33,000. Fulcrum Asset Management LLP purchased a new stake in Plains All American Pipeline during the third quarter valued at about $50,000. Farther Finance Advisors LLC boosted its holdings in shares of Plains All American Pipeline by 342.7% in the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Plains All American Pipeline by 93.2% in the second quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock worth $78,000 after buying an additional 2,041 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

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.