Plains All American Pipeline (NYSE:PAA) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Plains All American Pipeline, L.P. (NYSE:PAA) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.58 and traded as high as $19.22. Plains All American Pipeline shares last traded at $19.14, with a volume of 3,186,299 shares trading hands.

Analysts Set New Price Targets

PAA has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Mizuho set a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a research note on Friday, January 16th. Raymond James Financial restated a “strong-buy” rating and issued a $22.00 target price (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Finally, Barclays lowered their price target on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.56.

Plains All American Pipeline Stock Up 0.3%

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $13.54 billion, a P/E ratio of 26.29 and a beta of 0.59. The stock’s fifty day moving average is $17.93 and its two-hundred day moving average is $17.58.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.Plains All American Pipeline’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.4175 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Friday, January 30th. Plains All American Pipeline’s payout ratio is currently 138.02%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Plains All American Pipeline by 342.7% in the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the pipeline company’s stock worth $73,000 after purchasing an additional 3,149 shares during the period. Rede Wealth LLC acquired a new stake in Plains All American Pipeline during the 4th quarter valued at $371,000. Sippican Capital Advisors lifted its holdings in shares of Plains All American Pipeline by 2.4% in the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the pipeline company’s stock valued at $589,000 after purchasing an additional 775 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Plains All American Pipeline by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 374,945 shares of the pipeline company’s stock worth $6,734,000 after buying an additional 8,091 shares during the period. Finally, Naviter Wealth LLC purchased a new position in shares of Plains All American Pipeline during the fourth quarter valued at $249,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.