Plains All American Pipeline (NYSE:PAA) Sets New 52-Week High – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have weighed in on PAA shares. Morgan Stanley raised their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Bank of America downgraded Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target for the company. in a report on Wednesday, January 28th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $22.00 price target (down previously from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.18.

Plains All American Pipeline Price Performance

The firm has a market capitalization of $14.55 billion, a PE ratio of 28.29 and a beta of 0.60. The firm’s fifty day moving average price is $18.86 and its 200 day moving average price is $17.73. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. As a group, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.4175 dividend. The ex-dividend date was Friday, January 30th. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.1%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of the stock. Mather Group LLC. purchased a new position in shares of Plains All American Pipeline during the 3rd quarter valued at approximately $33,000. Caldwell Trust Co acquired a new stake in Plains All American Pipeline during the third quarter valued at $38,000. Newbridge Financial Services Group Inc. increased its holdings in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after buying an additional 655 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth about $42,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 2,128 shares in the last quarter. Hedge funds and other institutional investors 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.