Plains All American Pipeline (NASDAQ:PAA) Reaches New 1-Year High – Time to Buy?

Plains All American Pipeline Lp (NASDAQ:PAA) hit a new 52-week high during trading on Thursday . The stock traded as high as $23.97 and last traded at $23.33, with a volume of 2557270 shares trading hands. The stock had previously closed at $23.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PAA shares. Citigroup upped their target price on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays upped their target price on Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Scotiabank upped their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Stifel Nicolaus upped their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Wells Fargo & Company upped their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $22.54.

Plains All American Pipeline Trading Down 1.2%

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a 50-day moving average price of $21.95. The stock has a market capitalization of $16.46 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 3.04 and a beta of 0.51.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. On average, 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 7.2%. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.48%.

Institutional Trading of Plains All American Pipeline

Several institutional investors have recently modified their holdings of PAA. Financial Life Planners acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $27,000. Newbridge Financial Services Group Inc. grew its holdings 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 company’s stock worth $41,000 after purchasing an additional 655 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $42,000. Fulcrum Asset Management LLP acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter worth approximately $50,000. Finally, Fifth Third Bancorp grew its holdings in shares of Plains All American Pipeline by 257.3% during the 3rd quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after purchasing an additional 3,065 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.