Plains All American Pipeline (NYSE:PAA) Hits New 12-Month High at $17.97

Plains All American Pipeline, L.P. (NYSE:PAAGet Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $17.97 and last traded at $17.97, with a volume of 93644 shares changing hands. The stock had previously closed at $17.81.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research report on Friday, March 1st. StockNews.com raised Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Truist Financial boosted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.56.

View Our Latest Stock Report on Plains All American Pipeline

Plains All American Pipeline Stock Performance

The firm has a 50 day moving average of $16.38 and a two-hundred day moving average of $15.70. The stock has a market cap of $12.66 billion, a PE ratio of 12.81 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAAGet Free Report) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Research analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a dividend of $0.3175 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, January 30th. This represents a $1.27 annualized dividend and a yield of 7.03%. Plains All American Pipeline’s payout ratio is presently 91.37%.

Institutional Investors Weigh In On Plains All American Pipeline

Several institutional investors have recently added to or reduced their stakes in PAA. Sunbelt Securities Inc. purchased a new stake in Plains All American Pipeline during the first quarter worth approximately $28,000. CENTRAL TRUST Co lifted its stake in Plains All American Pipeline by 212.5% in the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in Plains All American Pipeline in the fourth quarter valued at approximately $39,000. Clear Street Markets LLC purchased a new stake in Plains All American Pipeline in the fourth quarter valued at approximately $45,000. Finally, Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

(Get Free Report)

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.

Further Reading

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