Plains All American Pipeline (NYSE:PAA) Sets New 12-Month High at $15.49

Posted by Defense World Staff on Sep 7th, 2023

Shares of Plains All American Pipeline, L.P. (NYSE:PAA – Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $15.49 and last traded at $15.46, with a volume of 560954 shares trading hands. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PAA shares. Truist Financial boosted their price objective on Plains All American Pipeline from $15.00 to $17.00 in a research report on Thursday, May 18th. TD Securities boosted their target price on Plains All American Pipeline from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Morgan Stanley boosted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, July 20th. Mizuho boosted their target price on Plains All American Pipeline from $17.00 to $19.00 in a research note on Wednesday, July 12th. Finally, Royal Bank of Canada boosted their target price on Plains All American Pipeline from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Moderate Buy” and an average price target of $16.58.

View Our Latest Research Report on Plains All American Pipeline

Plains All American Pipeline Stock Performance

The company has a market capitalization of $10.32 billion, a PE ratio of 9.12 and a beta of 1.69. The company has a 50 day moving average of $14.86 and a two-hundred day moving average of $13.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Plains All American Pipeline had a return on equity of 9.89% and a net margin of 2.53%. The company had revenue of $11.60 billion for the quarter, compared to analysts’ expectations of $15.28 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was down 29.1% on a year-over-year basis. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.28 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a $0.2675 dividend. The ex-dividend date was Friday, July 28th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 7.24%. Plains All American Pipeline’s dividend payout ratio is currently 66.05%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently modified their holdings of PAA. Sunbelt Securities Inc. purchased a new stake in shares of Plains All American Pipeline in the first quarter worth $28,000. Gradient Investments LLC bought a new position in shares of Plains All American Pipeline during the second quarter valued at $33,000. Fifth Third Bancorp lifted its holdings in Plains All American Pipeline by 49.9% in the second quarter. Fifth Third Bancorp now owns 2,376 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 791 shares during the period. North Star Investment Management Corp. lifted its holdings in Plains All American Pipeline by 250.0% in the first quarter. North Star Investment Management Corp. now owns 2,800 shares of the pipeline company’s stock valued at $35,000 after acquiring an additional 2,000 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Plains All American Pipeline in the first quarter valued at about $44,000. 41.13% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline

(Get Free Report)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.