Plains All American Pipeline (NASDAQ:PAA) Sets New 1-Year High – Here’s Why

Plains All American Pipeline Lp (NASDAQ:PAA)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.93 and last traded at $22.9050, with a volume of 507338 shares changing hands. The stock had previously closed at $22.64.

Analyst Ratings Changes

A number of equities analysts have weighed in on PAA shares. Royal Bank Of Canada increased their target price 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, February 17th. Stifel Nicolaus upped their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Barclays raised their price objective on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Wells Fargo & Company lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.08.

Plains All American Pipeline Stock Down 3.0%

The firm’s 50-day moving average price is $21.65. The company has a market cap of $15.76 billion, a PE ratio of 13.45, a P/E/G ratio of 2.66 and a beta of 0.51. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that Plains All American Pipeline Lp will post 1.83 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Friday, May 1st. Plains All American Pipeline’s payout ratio is 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Life Planners purchased a new position in Plains All American Pipeline during the first quarter worth about $27,000. Mather Group LLC. purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at about $33,000. Caldwell Trust Co bought a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at about $38,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Plains All American Pipeline by 40.7% during the fourth 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. Finally, Aventura Private Wealth LLC purchased a new position in shares of Plains All American Pipeline during the fourth quarter worth about $42,000. Hedge funds and other institutional investors 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.