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

Plains All American Pipeline Lp (NASDAQ:PAA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.39 and last traded at $24.4250, with a volume of 406695 shares traded. The stock had previously closed at $23.87.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. US Capital Advisors cut shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Zacks Research cut Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Barclays boosted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday. Scotiabank upped their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company increased their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.08.

Plains All American Pipeline Stock Up 1.8%

The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $17.14 billion, a PE ratio of 18.58, a PEG ratio of 11.01 and a beta of 0.50. The company’s 50 day moving average is $22.64 and its two-hundred day moving average is $21.36.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company had revenue of $12.47 billion for the quarter. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Plains All American Pipeline Lp will post 1.55 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.9%. Plains All American Pipeline’s dividend payout ratio is 127.48%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Plains All American Pipeline by 0.7% during the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after buying an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the last quarter. Morgan Stanley boosted its holdings in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after purchasing an additional 2,833,161 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Plains All American Pipeline by 2.9% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock worth $171,377,000 after purchasing an additional 265,555 shares during the period. Finally, BROOKFIELD Corp ON lifted its holdings in shares of Plains All American Pipeline by 18.9% in the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after buying an additional 1,076,291 shares during the period. 41.78% of the stock is currently owned by institutional investors.

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.