Plains All American Pipeline (NASDAQ:PAA) Sets New 12-Month High – What’s Next?

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) reached a new 52-week high on Friday . The stock traded as high as $23.04 and last traded at $22.9050, with a volume of 1818468 shares traded. The stock had previously closed at $22.48.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. Barclays raised their price target on Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Mizuho set a $23.00 price target on Plains All American Pipeline in a research report on Friday, January 23rd. Stifel Nicolaus raised their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Morgan Stanley raised their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.38.

Plains All American Pipeline Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.92 and a current ratio of 0.94. The stock’s 50-day moving average price is $21.87. The firm has a market cap of $16.16 billion, a PE ratio of 17.48, a P/E/G ratio of 2.86 and a beta of 0.51.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion during the quarter. During the same quarter in the previous year, the company posted $0.39 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Plains All American Pipeline Lp will post 1.64 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s payout ratio is currently 127.48%.

Institutional Trading of Plains All American Pipeline

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Infrastructure Capital Advisors LLC grew its holdings in shares of Plains All American Pipeline by 4.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company’s stock worth $69,000,000 after purchasing an additional 130,164 shares during the last quarter. BROOKFIELD Corp ON grew its holdings in shares of Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock worth $82,430,000 after purchasing an additional 2,992,549 shares during the last quarter. Callodine Capital Management LP grew its holdings in shares of Plains All American Pipeline by 33.3% during the first quarter. Callodine Capital Management LP now owns 200,000 shares of the company’s stock worth $4,466,000 after purchasing an additional 50,000 shares during the last quarter. Bollard Group LLC grew its holdings in shares of Plains All American Pipeline by 7.7% during the first quarter. Bollard Group LLC now owns 1,215,856 shares of the company’s stock worth $27,150,000 after purchasing an additional 86,602 shares during the last quarter. Finally, Hilltop Holdings Inc. bought a new stake in shares of Plains All American Pipeline during the first quarter worth about $237,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.