Plains All American Pipeline (NYSE:PAA) Reaches New 12-Month High – Should You Buy?

Plains All American Pipeline, L.P. (NYSE:PAA)’s share price hit a new 52-week high on Friday . The stock traded as high as $20.83 and last traded at $20.75, with a volume of 88154 shares trading hands. The stock had previously closed at $20.70.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline 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 stock an “equal weight” rating in a report on Tuesday, November 25th. Royal Bank Of Canada upped their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Barclays lifted their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.18.

Plains All American Pipeline Price Performance

The stock’s 50-day moving average price is $18.86 and its 200 day moving average price is $17.73. 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 firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 28.29 and a beta of 0.60.

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 for the quarter, missing analysts’ consensus estimates 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%.The firm’s revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. Equities research analysts expect 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 business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.4175 dividend. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend was Friday, January 30th. Plains All American Pipeline’s payout ratio is 100.60%.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Financial LLC boosted its holdings in Plains All American Pipeline by 1.0% during the fourth quarter. Summit Financial LLC now owns 61,265 shares of the pipeline company’s stock worth $1,100,000 after buying an additional 599 shares in the last quarter. Exencial Wealth Advisors LLC increased its holdings in Plains All American Pipeline by 1.5% in the third quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the pipeline company’s stock valued at $698,000 after buying an additional 601 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Plains All American Pipeline by 40.7% during 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 period. Symphony Financial Services Inc. boosted its stake in shares of Plains All American Pipeline by 1.4% during the 4th quarter. Symphony Financial Services Inc. now owns 52,496 shares of the pipeline company’s stock worth $943,000 after acquiring an additional 715 shares in the last quarter. Finally, Sippican Capital Advisors grew its holdings in shares of Plains All American Pipeline by 2.4% in the 4th quarter. Sippican Capital Advisors now owns 32,800 shares of the pipeline company’s stock worth $589,000 after acquiring an additional 775 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.