Plains All American Pipeline (NYSE:PAA) Reaches New 52-Week High – Here’s What Happened

Plains All American Pipeline, L.P. (NYSE:PAA)’s stock price reached a new 52-week high on Monday . The company traded as high as $21.24 and last traded at $21.2230, with a volume of 420433 shares. The stock had previously closed at $20.91.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PAA shares. Barclays boosted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. Citigroup boosted their price objective on Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Wells Fargo & Company increased their target price on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, February 9th. Royal Bank Of Canada lifted their target price on Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.18.

Plains All American Pipeline Stock Performance

The stock has a market capitalization of $15.09 billion, a PE ratio of 29.30 and a beta of 0.58. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $19.37 and a 200-day moving average of $17.91.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. Equities analysts anticipate 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. Investors of record on Friday, January 30th were paid a $0.4175 dividend. 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 yield of 7.8%. The ex-dividend date was Friday, January 30th. Plains All American Pipeline’s payout ratio is presently 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Plains All American Pipeline during the third quarter worth $33,000. Caldwell Trust Co acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth about $38,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 655 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter valued at about $42,000. Finally, Global Retirement Partners LLC lifted its stake in Plains All American Pipeline by 468.7% during the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,128 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

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.