Plains All American Pipeline (NYSE:PAA) Reaches New 1-Year Low – What’s Next?

Plains All American Pipeline, L.P. (NYSE:PAA)’s stock price reached a new 52-week low on Monday . The stock traded as low as $15.94 and last traded at $16.17, with a volume of 1029841 shares trading hands. The stock had previously closed at $17.34.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PAA. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Morgan Stanley lifted their price target on Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Scotiabank reduced their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Finally, Raymond James increased their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.23.

Plains All American Pipeline Price Performance

The firm has a market cap of $11.62 billion, a P/E ratio of 22.62 and a beta of 1.17. The company has a fifty day moving average of $19.89 and a 200-day moving average of $18.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.20%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline’s payout ratio is currently 208.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new stake in Plains All American Pipeline during the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at about $27,000. National Bank of Canada FI bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at about $27,000. Jones Financial Companies Lllp boosted its holdings in shares of Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 3,368 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in shares of Plains All American Pipeline in the fourth quarter worth about $97,000. 41.78% of the stock is owned by institutional investors.

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.