Plains All American Pipeline (NYSE:PAA) Reaches New 12-Month High – What’s Next?

Plains All American Pipeline, L.P. (NYSE:PAA) hit a new 52-week high on Friday . The company traded as high as $19.31 and last traded at $19.12, with a volume of 749332 shares changing hands. The stock had previously closed at $18.73.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PAA shares. Bank of America initiated coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Wolfe Research upgraded 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. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Scotiabank restated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Plains All American Pipeline Price Performance

The company has a 50 day moving average of $17.53 and a two-hundred day moving average of $17.67. The firm has a market cap of $13.36 billion, a P/E ratio of 16.95 and a beta of 1.64. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. 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 annualized dividend and a dividend yield of 8.01%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 113.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Axiom Advisory LLC lifted its stake in Plains All American Pipeline by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 valued at $109,000 after purchasing an additional 856 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Plains All American Pipeline by 5.1% in the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 887 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after purchasing an additional 927 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its position in Plains All American Pipeline by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after purchasing an additional 1,047 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

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.