Plains All American Pipeline (NYSE:PAA) Reaches New 12-Month High – Should You Buy?

Plains All American Pipeline, L.P. (NYSE:PAA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $22.29 and last traded at $22.01, with a volume of 889172 shares. The stock had previously closed at $22.08.

Analysts Set New Price Targets

A number of brokerages recently commented on PAA. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research note on Wednesday, January 28th. Morgan Stanley boosted their price target 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 Tuesday, November 25th. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.50.

Plains All American Pipeline Trading Down 2.7%

The firm has a 50-day moving average of $19.76 and a 200 day moving average of $18.05. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 28.88 and a beta of 0.59.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly 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 return on equity of 11.69% and a net margin of 1.54%.During the same period last year, the business posted $0.42 EPS. The company’s revenue was down 12.2% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a yield of 7.9%. Plains All American Pipeline’s dividend payout ratio is currently 100.60%.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $33,000. Caldwell Trust Co acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter worth approximately $38,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of 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 acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Plains All American Pipeline during the fourth quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC increased its stake in shares of Plains All American Pipeline by 468.7% during the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock valued at $44,000 after acquiring an additional 2,128 shares during the period. 41.78% of the stock is currently owned by institutional investors.

About Plains All American Pipeline

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.