Plains All American Pipeline (NYSE:PAA) Reaches New 1-Year High – Time to Buy?

Plains All American Pipeline, L.P. (NYSE:PAA) shares reached a new 52-week high on Wednesday . The company traded as high as $20.80 and last traded at $20.57, with a volume of 4021260 shares changing hands. The stock had previously closed at $20.06.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PAA shares. Scotiabank reaffirmed a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Bank of America initiated coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Finally, Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus target price of $19.92.

Plains All American Pipeline Trading Down 0.1 %

The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $14.47 billion, a PE ratio of 18.37 and a beta of 1.64. The business’s 50-day moving average is $18.01 and its two-hundred day moving average is $17.77.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.39%. Plains All American Pipeline’s payout ratio is currently 135.71%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline during the third quarter worth $27,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline in the third quarter valued at $28,000. Sunbelt Securities Inc. lifted its stake in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after buying an additional 856 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in Plains All American Pipeline by 100.0% in the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock valued at $139,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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