Plains All American Pipeline (NYSE:PAA) Earns Sector Perform Rating from Royal Bank of Canada

Plains All American Pipeline (NYSE:PAA)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They currently have a $19.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 10.59% from the stock’s current price.

PAA has been the subject of several other research reports. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America started coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $17.18 on Friday. 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 capitalization of $12.04 billion, a P/E ratio of 15.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.01. The company’s fifty day moving average is $17.34 and its two-hundred day moving average is $17.53.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts predict that Plains All American Pipeline will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors have recently made changes to their positions in PAA. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline during the third quarter worth about $28,000. ORG Partners LLC grew 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 acquiring an additional 730 shares during the period. Evermay Wealth Management LLC acquired a new position in Plains All American Pipeline in the 1st quarter valued at $35,000. Sunbelt Securities Inc. raised its holdings in Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 1,318 shares during the last quarter. Finally, American National Bank boosted its holdings in shares of Plains All American Pipeline by 249.2% during the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 3,110 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

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.