Plains All American Pipeline (NYSE:PAA) Hits New 1-Year High at $17.48

Plains All American Pipeline, L.P. (NYSE:PAA)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $17.48 and last traded at $17.48, with a volume of 152720 shares changing hands. The stock had previously closed at $17.31.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAA. Citigroup raised their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline has an average rating of “Moderate Buy” and a consensus target price of $17.56.

Plains All American Pipeline Stock Up 0.8 %

The stock has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $15.63. The firm has a market cap of $12.23 billion, a PE ratio of 12.45 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a $0.3175 dividend. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.28%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 91.37%.

Institutional Trading of Plains All American Pipeline

A number of institutional investors and hedge funds have recently modified their holdings of PAA. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Plains All American Pipeline in the first quarter worth $130,000. Cetera Advisor Networks LLC grew its holdings in shares of Plains All American Pipeline by 45.5% in the first quarter. Cetera Advisor Networks LLC now owns 16,943 shares of the pipeline company’s stock worth $182,000 after acquiring an additional 5,296 shares during the period. XTX Topco Ltd bought a new stake in shares of Plains All American Pipeline in the first quarter worth $181,000. Clearbridge Investments LLC grew its holdings in shares of Plains All American Pipeline by 2.7% in the first quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company’s stock worth $78,732,000 after acquiring an additional 194,589 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Plains All American Pipeline by 38.9% in the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after acquiring an additional 4,880,244 shares during the period. Institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.