Plains All American Pipeline (PAA) Given Buy Rating at BMO Capital Markets

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Plains All American Pipeline (NYSE:PAA)‘s stock had its “buy” rating reissued by stock analysts at BMO Capital Markets in a research report issued to clients and investors on Monday. They presently have a $29.00 price target on the pipeline company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 6.34% from the stock’s previous close.

Several other brokerages have also recently weighed in on PAA. TheStreet cut shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a research report on Wednesday, August 8th. ValuEngine raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. SunTrust Banks reaffirmed a “buy” rating and issued a $29.00 price target on shares of Plains All American Pipeline in a research report on Thursday. Wolfe Research cut shares of Plains All American Pipeline from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 24th. Finally, Stifel Nicolaus raised their price target on shares of Plains All American Pipeline from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $26.33.

Shares of NYSE PAA opened at $27.27 on Monday. Plains All American Pipeline has a fifty-two week low of $18.38 and a fifty-two week high of $27.70. The stock has a market capitalization of $19.47 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.03.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.15. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.73%. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.18 billion. sell-side analysts expect that Plains All American Pipeline will post 1.59 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Plains All American Pipeline in the 1st quarter valued at about $108,000. FTB Advisors Inc. increased its stake in Plains All American Pipeline by 97.8% in the 1st quarter. FTB Advisors Inc. now owns 5,695 shares of the pipeline company’s stock valued at $125,000 after buying an additional 2,816 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Plains All American Pipeline in the 2nd quarter valued at about $162,000. American National Registered Investment Advisor Inc. purchased a new stake in Plains All American Pipeline in the 1st quarter valued at about $200,000. Finally, Penn Davis Mcfarland Inc. purchased a new stake in Plains All American Pipeline in the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 45.56% of the company’s stock.

About Plains All American Pipeline

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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