Plains All American Pipeline (NASDAQ:PAA) Reaches New 12-Month High – Time to Buy?

Plains All American Pipeline Lp (NASDAQ:PAA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.89 and last traded at $24.91, with a volume of 259864 shares changing hands. The stock had previously closed at $24.43.

Wall Street Analyst Weigh In

Several research firms have commented on PAA. The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Wednesday, July 15th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research report on Tuesday, June 16th. Citigroup lifted their target price 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, May 14th. Finally, Zacks Research downgraded shares of Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.23.

Plains All American Pipeline Stock Up 1.8%

The firm’s fifty day moving average is $22.91 and its 200-day moving average is $21.68. The stock has a market capitalization of $17.55 billion, a PE ratio of 18.97, a PEG ratio of 9.64 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business had revenue of $12.47 billion for the quarter. During the same period last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Plains All American Pipeline Lp will post 1.55 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.7%. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.48%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors have recently made changes to their positions in the stock. Financial Life Planners acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth $27,000. Allied Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline in the second quarter valued at about $33,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares during the period. Fulcrum Asset Management LLP purchased a new stake in Plains All American Pipeline during the third quarter worth about $50,000. Finally, Farther Finance Advisors LLC boosted its holdings in Plains All American Pipeline by 342.7% during the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.