Plains All American Pipeline (NASDAQ:PAA) Reaches New 12-Month High – Here’s What Happened

Plains All American Pipeline Lp (NASDAQ:PAA)’s stock price hit a new 52-week high on Monday . The company traded as high as $25.04 and last traded at $25.0750, with a volume of 1394408 shares traded. The stock had previously closed at $24.61.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings cut shares of Plains All American Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their price objective on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Truist Financial lifted their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on Plains All American Pipeline from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Monday, August 17th. Finally, The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and increased their price target for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given 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 target price of $23.54.

Plains All American Pipeline Trading Up 1.6%

The company has a market cap of $17.64 billion, a PE ratio of 6.92, a P/E/G ratio of 8.51 and a beta of 0.50. The stock’s 50 day moving average is $23.21 and its 200-day moving average is $22.27. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business had revenue of $17.69 billion for the quarter. During the same period in the prior year, the business earned $0.36 EPS. The firm’s revenue was up 66.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Plains All American Pipeline Lp will post 1.77 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.7%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently added to or reduced their stakes in the stock. Financial Life Planners bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at approximately $27,000. Allied Private Wealth LLC bought a new position in shares of Plains All American Pipeline during the 2nd quarter valued at approximately $33,000. Fulcrum Asset Management LLP purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at $50,000. Farther Finance Advisors LLC raised its holdings in Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock valued at $73,000 after buying an additional 3,149 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Plains All American Pipeline by 93.2% in the second quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock worth $78,000 after buying an additional 2,041 shares during the last quarter. 41.78% of the stock is owned by 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.