Plains All American Pipeline (NYSE:PAA) Hits New 1-Year High at $17.97

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.97 and last traded at $17.97, with a volume of 93644 shares. The stock had previously closed at $17.81.

Analyst Ratings Changes

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

Plains All American Pipeline Stock Up 2.0 %

The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $12.73 billion, a PE ratio of 13.01 and a beta of 1.59. The stock has a 50-day moving average of $16.42 and a 200 day moving average of $15.72.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period last year, the business posted $0.33 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a $0.3175 dividend. This is an increase from Plains All American Pipeline's previous quarterly dividend of $0.27. This represents a $1.27 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date of this dividend was Tuesday, January 30th. Plains All American Pipeline's dividend payout ratio (DPR) is currently 91.37%.

Institutional Trading of Plains All American Pipeline

A number of large investors have recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new position in shares of Plains All American Pipeline in the first quarter worth $28,000. CENTRAL TRUST Co boosted its holdings in shares of 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 worth $38,000 after acquiring an additional 1,700 shares during the period. Fortitude Family Office LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter worth $39,000. Clear Street Markets LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter worth $45,000. Finally, Scarborough Advisors LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter worth $46,000. 41.78% of the stock is owned by hedge funds and other 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.