Plains All American Pipeline (NASDAQ:PAA) Sets New 1-Year High – What’s Next?

Plains All American Pipeline Lp (NASDAQ:PAA) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.89 and last traded at $25.6390, with a volume of 6604 shares trading hands. The stock had previously closed at $25.48.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAA. Zacks Research upgraded shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a report on Tuesday, August 25th. Truist Financial increased their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Citigroup raised their price objective on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.54.

Plains All American Pipeline Stock Performance

The stock has a fifty day moving average of $23.58 and a 200-day moving average of $22.47. The firm has a market capitalization of $18.07 billion, a P/E ratio of 7.08, a P/E/G ratio of 8.81 and a beta of 0.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm had revenue of $17.69 billion during the quarter. During the same quarter last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 66.3% on a year-over-year basis. On average, research analysts anticipate that Plains All American Pipeline Lp will post 1.77 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.4175 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.5%. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Financial Life Planners bought a new position in Plains All American Pipeline in the first quarter valued at $27,000. Allied Private Wealth LLC acquired a new stake in Plains All American Pipeline in the 2nd quarter valued at $33,000. Fulcrum Asset Management LLP bought a new stake in Plains All American Pipeline during the 3rd quarter worth about $50,000. Farther Finance Advisors LLC lifted its position in Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Plains All American Pipeline by 93.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock worth $78,000 after buying an additional 2,041 shares during 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.