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

Plains All American Pipeline (NYSE:PAA) had its target price decreased by investment analysts at Barclays from $19.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the pipeline company’s stock. Barclays‘s price target would indicate a potential upside of 9.89% from the company’s previous close.

A number of other research firms have also recently issued reports on PAA. Morgan Stanley boosted their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 25th. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Raymond James lifted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.15.

Plains All American Pipeline Stock Performance

PAA stock traded down $0.78 during trading on Thursday, reaching $16.38. 2,050,007 shares of the stock were exchanged, compared to its average volume of 4,186,461. Plains All American Pipeline has a twelve month low of $15.57 and a twelve month 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 company has a market capitalization of $11.53 billion, a P/E ratio of 22.46 and a beta of 1.17. The stock has a 50 day simple moving average of $19.51 and a 200-day simple moving average of $18.46.

Institutional Trading of Plains All American Pipeline

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC lifted its holdings in Plains All American Pipeline by 13.5% during the 1st quarter. Rothschild Investment LLC now owns 10,780 shares of the pipeline company’s stock worth $216,000 after buying an additional 1,280 shares in the last quarter. Walnut Private Equity Partners LLC bought a new position in Plains All American Pipeline in the first quarter valued at about $10,500,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Plains All American Pipeline by 50.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,154 shares of the pipeline company’s stock valued at $805,000 after acquiring an additional 15,854 shares during the last quarter. Waverly Advisors LLC increased its position in Plains All American Pipeline by 2.5% in the fourth quarter. Waverly Advisors LLC now owns 51,565 shares of the pipeline company’s stock worth $881,000 after purchasing an additional 1,237 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Plains All American Pipeline by 116.7% during the 4th quarter. Nuveen Asset Management LLC now owns 245,345 shares of the pipeline company’s stock worth $4,190,000 after purchasing an additional 132,142 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

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.