Plains All American Pipeline (NASDAQ:PAA) Reaches New 12-Month High - Should You Buy?

Key Points

• Plains All American Pipeline (NASDAQ:PAA) hit a new 52-week high, trading as high as $24.39 during the session and last changing hands around $24.43.
• Analysts remain mixed overall, but several have raised price targets or reiterated bullish views; MarketBeat says the stock now has a consensus Hold rating with a $23.08 target.
• The company recently reported Q1 EPS of $0.39, slightly below expectations, while revenue rose 8.7% year over year; it also declared a quarterly dividend of $0.4175 per share, implying a 6.9% annualized yield.

Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.39 and last traded at $24.4250, with a volume of 406695 shares traded. The stock had previously closed at $23.87.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAA. Scotiabank raised their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. UBS Group reiterated a "buy" rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Mizuho raised their price target on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. The Goldman Sachs Group raised Plains All American Pipeline from a "sell" rating to a "neutral" rating and upped their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Finally, Barclays lifted their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock an "underweight" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $23.08.

Plains All American Pipeline Stock Performance

The business's fifty day moving average is $22.64 and its 200-day moving average is $21.36. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $17.14 billion, a PE ratio of 18.58, a P/E/G ratio of 11.01 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last announced 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 business had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. As a group, research analysts predict that Plains All American Pipeline Lp will post 1.55 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is currently 127.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Life Planners bought a new position in shares of Plains All American Pipeline in the first quarter worth about $27,000. Allied Private Wealth LLC purchased a new stake in Plains All American Pipeline in the 2nd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. increased its holdings in Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company's stock worth $41,000 after acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in Plains All American Pipeline in the 4th quarter worth approximately $42,000. Finally, Fulcrum Asset Management LLP bought a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $50,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

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.

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