Scotiabank Has Lowered Expectations for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its price objective lowered by stock analysts at Scotiabank from $23.00 to $22.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “sector outperform” rating on the pipeline company’s stock. Scotiabank’s price target points to a potential upside of 13.70% from the company’s previous close.

PAA has been the subject of several other reports. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Barclays raised their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Raymond James raised their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.14.

Plains All American Pipeline Stock Up 1.8 %

PAA opened at $19.35 on Thursday. Plains All American Pipeline has a 1-year low of $16.21 and a 1-year high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 26.51 and a beta of 1.62. The business has a 50 day moving average of $19.53 and a 200-day moving average of $18.20.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $1,708,000. Stifel Financial Corp increased its stake in shares of Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after buying an additional 54,111 shares in the last quarter. FMR LLC increased its stake in shares of Plains All American Pipeline by 91.1% in the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after buying an additional 286,222 shares in the last quarter. PFG Investments LLC increased its stake in shares of Plains All American Pipeline by 47.0% in the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after buying an additional 14,432 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $591,000. 41.78% of the stock is currently 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.