Plains All American Pipeline (NASDAQ:PAA) Sets New 1-Year High – Should You Buy?

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) hit a new 52-week high on Thursday . The stock traded as high as $22.93 and last traded at $22.9050, with a volume of 507338 shares traded. The stock had previously closed at $22.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PAA shares. Truist Financial started coverage on Plains All American Pipeline in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Wells Fargo & Company upped their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Finally, Barclays upped their target price on Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Two research 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.08.

Plains All American Pipeline Stock Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market cap of $16.24 billion, a PE ratio of 13.87, a PEG ratio of 2.53 and a beta of 0.53. The company has a 50 day simple moving average of $21.60.

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

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.4175 dividend. The ex-dividend date is Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 7.3%. Plains All American Pipeline’s dividend payout ratio (DPR) is 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in Plains All American Pipeline in the first quarter valued at about $27,000. Mather Group LLC. purchased a new stake in Plains All American Pipeline in the third quarter valued at about $33,000. Caldwell Trust Co purchased a new stake in Plains All American Pipeline in the third quarter valued at about $38,000. Newbridge Financial Services Group Inc. raised its stake in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after buying an additional 655 shares during the last quarter. Finally, Aventura Private Wealth LLC purchased a new stake in Plains All American Pipeline in the fourth quarter valued at about $42,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

About Plains All American Pipeline

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.