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Plains All American (PAA) Receives a Rating Update from a Top Analyst

RBC Capital analyst Elvira Scotto maintained a Hold rating on Plains All American (PAAResearch Report) today and set a price target of $13.00. The company’s shares closed yesterday at $11.71.

Scotto covers the Industrial Goods sector, focusing on stocks such as Cheniere Energy, Cheniere Energy Partners, and Dcp Midstream Partners. According to TipRanks, Scotto has an average return of 23.3% and a 66.01% success rate on recommended stocks.

Currently, the analyst consensus on Plains All American is a Moderate Buy with an average price target of $14.31, a 22.20% upside from current levels. In a report released yesterday, Barclays also maintained a Hold rating on the stock with a $13.00 price target.

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Based on Plains All American’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $16.36 billion and a net profit of $203 million. In comparison, last year the company earned a revenue of $9.93 billion and had a GAAP net loss of $220 million

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PAA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Plains All American Pipeline LP engages in the provision of transportation, storage, terminalling and marketing of crude oil, refined products and other natural gas-related petroleum products. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segments consist of fee-based activities associated with transporting crude oil and refined products on pipelines, gathering systems, trucks and barges. The Facilities segment includes fee-based activities associated with providing storage, terminalling and throughput services for crude oil, refined products, and natural gas, as well LPG fractionation and isomerization services. The Supply and Logistics segment is engaged in the sale of gathered and bulk-purchased crude oil and natural gas liquids volumes. The company was founded in 1998 and is headquartered in Houston, TX.

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