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Monday, September 18, 2023

NYSE:PAA Is Going To Receive Consensus Recommendation From Brokerages

The average rating of NYSE:PAA has been accredited to ‘buy’ amongst the nineteen firms for ratings that cover this company, according to MarketBeat Ratings. So far, there has been one analyst who rated that stock as ‘sell’, while six of them have issued a ‘hold’, and eleven, a clear majority, have approved ‘buy’ for this company. According to brokers, the 12 month average price objective- the ones that issued ratings- have been fixed at $12.07.

PAA has received several reports from brokerages recently. TD Securities, one amongst them, decided to cover up the shares of NYSE:PAA in a report that was dated June 30th. This report set a ‘buy’ rating, with the target price of $17.00. ValuEngine started downgrading the shares of PAA from a rating of ‘sell’, to a rating of ‘strong sell’- according to a report dated August 3rd. Morgan Stanley, too, upgraded its shares of PAA from that of being an ‘underweight’, to ‘overweight’- with a target price of $8.00 for the company. This move was simply a valuation call, as they noted in their report. Raymond James increased the valuation price, while Bank of America upgraded the rating from ‘underperform’, to ‘buy’.

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The Quarterly Earnings of NYSE:PAA

The NYSE:PAA started off at $5.76 on a Thursday. The company’s debt-to-equity ratio is about 1.30, with a quick ratio of around 0.69, and a current ratio of about 0.87. The 50 day simple moving average of the stock is $6.65, and the simple moving average for 200 days is $7.74. The market cap of NYSE:PAA is around $4.19 billion, and it consists of a P/E ratio of around -1.95, and a 2.19 beta. The 52 week low for NYSE:PAA is $3.00, while the 52-week high for the same is $19.75. 

The last announcement of the NYSE:PAA had them talking about the results of their quarterly earnings, dated the 4th of August. This pipeline company has apparently reported a $0.25 earning/share for this quarter, which has missed the consensus estimates of the analysts by $0.03. The return on equity has been positive for the company with a 17.85%, with a net margin that is negative- 7.01%. The company had a revenue turnover of $3.23 billion for this entire quarter, which is comparatively lower than the estimates of $8.63 billion. Same time the previous year, the firm had been earning around 40/67 EPS. The NYSE:PAA’s quarterly revenue, although, was down 60.9% this year- which could be compared with the quarter last year. 

Plains All American (NYSE:PAA) Pipeline Company Profile

Using its subsidiaries, NYSE:PAA has been engaging in the storage, transformation, terminalling, and the sale and purchase of crude oil, natural gas, and natural gas liquids. The operation of the company has been divided into three different segments- Facilities, Transportation, Supply, and Logistics.

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NYSE:PAA has had a large number of institutional investors modifying its business holdings. Several groups, including the Blackstone Group Inc, the Brookfield Asset Management, and Chickasaw Capital Management LLC have decided to buy certain shares in this company. 

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