Plains All American Pipeline (NASDAQ:PAA) Reaches New 1-Year High – Still a Buy?

Plains All American Pipeline Lp (NASDAQ:PAA)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $23.04 and last traded at $22.9050, with a volume of 1818468 shares changing hands. The stock had previously closed at $22.48.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 23rd. Citigroup upped their price target on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Research downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Finally, Bank of America downgraded shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.38.

Plains All American Pipeline Stock Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.92. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 2.73 and a beta of 0.51. The business has a 50 day moving average price of $21.85.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.Plains All American Pipeline’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, analysts anticipate that Plains All American Pipeline Lp will post 1.69 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is currently 127.48%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently modified their holdings of the business. Alps Advisors Inc. lifted its position in shares of Plains All American Pipeline by 2.2% in the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock worth $1,297,700,000 after purchasing an additional 1,663,908 shares during the period. Invesco Ltd. lifted its position in shares of Plains All American Pipeline by 0.7% in the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock worth $601,818,000 after purchasing an additional 228,106 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Plains All American Pipeline by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the period. Morgan Stanley lifted its position in shares of Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after purchasing an additional 2,833,161 shares during the period. Finally, Tortoise Capital Advisors L.L.C. lifted its position in shares of Plains All American Pipeline by 2.9% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock worth $171,377,000 after purchasing an additional 265,555 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 (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.