Plains All American Pipeline (PAA) Earns Outperform Rating from Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group initiated coverage on shares of Plains All American Pipeline (NYSE:PAA) in a research note issued to investors on Thursday, January 4th, Marketbeat.com reports. The brokerage set an “outperform” rating and a $25.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 5.26% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. SunTrust Banks reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 10th. Stifel Nicolaus lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets set a $25.00 price objective on shares of Plains All American Pipeline and gave the stock a “buy” rating in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $26.42.

Shares of Plains All American Pipeline (NYSE PAA) traded up $0.17 during trading hours on Thursday, hitting $23.75. 2,234,629 shares of the company were exchanged, compared to its average volume of 3,236,450. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $17,040.00, a price-to-earnings ratio of 27.62 and a beta of 1.00. Plains All American Pipeline has a fifty-two week low of $18.38 and a fifty-two week high of $33.01.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $6.24 billion. Plains All American Pipeline had a return on equity of 9.06% and a net margin of 3.22%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. analysts forecast that Plains All American Pipeline will post 1.14 earnings per share for the current fiscal year.

In related news, VP Chris Herbold sold 10,171 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $20.25, for a total value of $205,962.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Adams Asset Advisors LLC lifted its holdings in Plains All American Pipeline by 16.6% in the fourth quarter. Adams Asset Advisors LLC now owns 215,321 shares of the pipeline company’s stock worth $4,444,000 after purchasing an additional 30,709 shares during the period. Atlantic Trust Group LLC raised its position in Plains All American Pipeline by 33.4% in the third quarter. Atlantic Trust Group LLC now owns 6,669,879 shares of the pipeline company’s stock worth $141,334,000 after acquiring an additional 1,668,416 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Plains All American Pipeline by 4.4% in the third quarter. Parametric Portfolio Associates LLC now owns 1,128,391 shares of the pipeline company’s stock worth $23,911,000 after acquiring an additional 47,404 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in Plains All American Pipeline by 30.4% in the third quarter. Chicago Partners Investment Group LLC now owns 255,532 shares of the pipeline company’s stock worth $5,415,000 after acquiring an additional 59,632 shares in the last quarter. Finally, Institutional & Family Asset Management LLC raised its position in Plains All American Pipeline by 75.8% in the third quarter. Institutional & Family Asset Management LLC now owns 217,822 shares of the pipeline company’s stock worth $4,616,000 after acquiring an additional 93,916 shares in the last quarter. 43.41% of the stock is owned by institutional investors and hedge funds.

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About Plains All American Pipeline

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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