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

Key Points

• Plains All American Pipeline shares reached a new 52-week high, trading near $24.91 and up 1.8% during the session.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $23.23 price target, below its recent trading level. The latest quarterly earnings of $0.39 per share missed estimates by $0.02, although revenue increased 8.7% year over year.
• The company declared a quarterly dividend of $0.4175 per share, equivalent to an annualized $1.67 payout and a 6.7% yield; institutional investors own 41.78% of the stock.

Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PAA shares. UBS Group reissued a "buy" rating on shares of Plains All American Pipeline in a research report on Tuesday, June 16th. US Capital Advisors downgraded shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, May 29th. Zacks Research downgraded shares of Plains All American Pipeline from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. Morgan Stanley boosted their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 20th. Finally, Barclays increased their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an "underweight" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and a consensus price target of $23.23.

Plains All American Pipeline Trading Up 1.8%

The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 9.64 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The company has a 50-day moving average price of $22.91 and a 200-day moving average price of $21.68.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, research analysts forecast that Plains All American Pipeline Lp will post 1.55 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.4175 per share. 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 presently 127.48%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in Plains All American Pipeline by 0.7% during the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company's stock worth $601,818,000 after acquiring an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company's stock valued at $360,097,000 after acquiring an additional 3,033,216 shares in the last quarter. Morgan Stanley boosted its stake in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company's stock valued at $177,467,000 after acquiring an additional 2,833,161 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Plains All American Pipeline by 2.9% during the fourth 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 last quarter. Finally, BROOKFIELD Corp ON grew its holdings in shares of Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company's stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. Institutional investors and hedge funds 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.

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