Plains All American Pipeline (NYSE:PAA) Given New $23.00 Price Target at Morgan Stanley

Plains All American Pipeline (NYSE:PAA) had its price objective upped by equities research analysts at Morgan Stanley from $19.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price target would suggest a potential upside of 13.95% from the company’s current price.

Other equities analysts also recently issued reports about the company. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Barclays upped their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Raymond James lifted their price objective 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. Finally, Scotiabank dropped their target price 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 report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.23.

Plains All American Pipeline Price Performance

Shares of PAA stock traded up $0.02 on Tuesday, hitting $20.19. 233,542 shares of the stock traded hands, compared to its average volume of 2,997,413. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline has a 52 week low of $16.21 and a 52 week high of $21.00. The firm has a 50 day simple moving average of $19.96 and a two-hundred day simple moving average of $18.37. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 27.66 and a beta of 1.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB bought a new stake in Plains All American Pipeline during the third quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth approximately $27,000. National Bank of Canada FI bought a new position in shares of Plains All American Pipeline during the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its holdings in Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after buying an additional 3,368 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in Plains All American Pipeline in the fourth quarter worth $97,000. Institutional investors own 41.78% of the company’s stock.

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.