Plains All American Pipeline (PAA) Upgraded to Buy at Tudor Pickering

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Plains All American Pipeline (NYSE:PAA) was upgraded by analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, The Fly reports.

Other equities analysts also recently issued reports about the stock. Evercore ISI initiated coverage on shares of Plains All American Pipeline in a research note on Tuesday. They issued a $24.00 price target on the stock. TheStreet raised shares of Plains All American Pipeline from a “c+” rating to a “b-” rating in a research note on Wednesday, November 7th. Morgan Stanley set a $30.00 price target on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Goldman Sachs Group raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, Jefferies Financial Group raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Plains All American Pipeline currently has a consensus rating of “Buy” and a consensus target price of $27.88.

PAA opened at $22.89 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.01. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.40 and a beta of 1.11. Plains All American Pipeline has a 52-week low of $19.33 and a 52-week high of $27.70.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.11. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $9.92 billion. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.72%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. On average, research analysts anticipate that Plains All American Pipeline will post 1.89 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. We Are One Seven LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $26,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $28,000. Arlington Partners LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $32,000. Portfolio Solutions LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $36,000. Finally, Lavaca Capital LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 47.20% of the company’s stock.

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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