Plains All American Pipeline (NYSE:PAA) Sets New 1-Year High – Should You Buy?

by · The Markets Daily

Shares of Plains All American Pipeline, L.P. (NYSE:PAA – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $21.24 and last traded at $21.2230, with a volume of 420433 shares trading hands. The stock had previously closed at $20.91.

Analyst Ratings Changes

Several brokerages recently issued reports on PAA. Wells Fargo & Company raised their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Barclays increased their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Morgan Stanley boosted their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Citigroup increased their price objective on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Mizuho set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.18.

Check Out Our Latest Stock Analysis on PAA

Plains All American Pipeline Price Performance

The company has a market cap of $15.02 billion, a price-to-earnings ratio of 29.17 and a beta of 0.60. The company’s 50 day moving average price is $19.22 and its 200-day moving average price is $17.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA – Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was down 12.2% on a year-over-year basis. On average, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.4175 per share. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 100.60%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bollard Group LLC boosted its holdings in shares of Plains All American Pipeline by 13.2% during the 2nd quarter. Bollard Group LLC now owns 1,131,158 shares of the pipeline company’s stock worth $20,723,000 after buying an additional 132,008 shares during the period. Inspire Investing LLC bought a new stake in Plains All American Pipeline during the third quarter valued at about $1,045,000. JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock valued at $122,814,000 after acquiring an additional 967,059 shares during the period. Advisors Asset Management Inc. grew its position in shares of Plains All American Pipeline by 16.7% in the second quarter. Advisors Asset Management Inc. now owns 323,590 shares of the pipeline company’s stock valued at $5,928,000 after purchasing an additional 46,406 shares during the last quarter. Finally, PFG Investments LLC lifted its position in shares of Plains All American Pipeline by 91.8% during the 3rd quarter. PFG Investments LLC now owns 130,443 shares of the pipeline company’s stock worth $2,225,000 after purchasing an additional 62,446 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

(Get Free Report)

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.

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