Plains All American Pipeline (NYSE:PAA) Now Covered by Bank of America

Analysts at Bank of America began coverage on shares of Plains All American Pipeline (NYSE:PAA) in a note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $18.00 price target on the pipeline company’s stock. Bank of America‘s target price would suggest a potential upside of 4.23% from the stock’s previous close.

Several other equities research analysts have also issued reports on PAA. UBS Group raised their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Plains All American Pipeline Stock Down 0.5 %

PAA stock opened at $17.27 on Thursday. Plains All American Pipeline has a 1-year low of $14.46 and a 1-year high of $19.17. The stock has a market cap of $12.11 billion, a P/E ratio of 15.70 and a beta of 1.60. The stock’s fifty day simple moving average is $17.57 and its two-hundred day simple moving average is $17.67. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $12.32 billion. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts expect that Plains All American Pipeline will post 1.3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth about $26,000. Future Financial Wealth Managment LLC bought a new stake in Plains All American Pipeline during the 1st quarter worth approximately $28,000. ORG Partners LLC lifted its stake in Plains All American Pipeline by 78.5% in the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares in the last quarter. Evermay Wealth Management LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at $35,000. Finally, Sunbelt Securities Inc. grew its position in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 1,318 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.