Plains All American Pipeline (NASDAQ:PAA) Reaches New 1-Year High – Still a Buy?

Plains All American Pipeline Lp (NASDAQ:PAA) shares hit a new 52-week high on Friday . The stock traded as high as $23.04 and last traded at $22.9050, with a volume of 1818468 shares traded. The stock had previously closed at $22.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAA shares. Stifel Nicolaus upped their price target 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 Friday, March 6th. Zacks Research cut shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Royal Bank Of Canada increased their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Mizuho set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 23rd. Finally, UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.38.

Plains All American Pipeline Price Performance

The stock’s 50-day moving average is $21.85. The stock has a market capitalization of $16.17 billion, a P/E ratio of 17.49, a PEG ratio of 2.73 and a beta of 0.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.92 and a current ratio of 0.94.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. On average, analysts expect that Plains All American Pipeline Lp will post 1.69 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.3%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 127.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PAA. Financial Life Planners purchased a new position in shares of Plains All American Pipeline in the first quarter worth $27,000. Newbridge Financial Services Group Inc. raised 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 company’s stock worth $41,000 after buying an additional 655 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter worth $42,000. Global Retirement Partners LLC raised its holdings in shares of Plains All American Pipeline by 468.7% in the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock worth $44,000 after buying an additional 2,128 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in shares of Plains All American Pipeline in the third quarter worth $50,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.