Plains All American Pipeline (NASDAQ:PAA) Sets New 1-Year High – What’s Next?

Plains All American Pipeline Lp (NASDAQ:PAA) shares hit a new 52-week high during trading on Friday. The company traded as high as $26.42 and last traded at $26.4750, with a volume of 368,813 shares changing hands. The stock had previously closed at $25.90.

Analysts Set New Price Targets

PAA has been the topic of a number of recent research reports. UBS Group increased their price target on shares of Plains All American Pipeline from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Weiss Ratings cut shares of Plains All American Pipeline from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, October 14th. JPMorgan Chase & Co. raised their target price on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Mizuho increased their target price on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Finally, Morgan Stanley raised their target price on Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.87.

Plains All American Pipeline Trading Up 3.3%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The business’s 50-day moving average price is $24.95 and its 200-day moving average price is $23.50. The firm has a market capitalization of $18.89 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 9.17 and a beta of 0.57.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.09). The business had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The business’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. As a group, analysts expect that Plains All American Pipeline Lp will post 1.73 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PAA. NEOS Investment Management LLC raised its position in shares of Plains All American Pipeline by 34.6% during the second quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock worth $17,250,000 after acquiring an additional 199,296 shares during the last quarter. Wealthstar Advisors LLC boosted its stake in Plains All American Pipeline by 152.0% in the 1st quarter. Wealthstar Advisors LLC now owns 103,580 shares of the company’s stock worth $2,313,000 after purchasing an additional 62,477 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of Plains All American Pipeline by 33.3% during the first quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock worth $4,466,000 after buying an additional 50,000 shares during the period. DV Trading LLC increased its stake in Plains All American Pipeline by 148.1% in the 1st quarter. DV Trading LLC now owns 82,454 shares of the company’s stock valued at $1,841,000 after buying an additional 49,221 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Plains All American Pipeline by 754.8% in the second quarter. Tidal Investments LLC now owns 87,636 shares of the company’s stock valued at $1,951,000 after acquiring an additional 77,384 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.