Plains All American Pipeline (NASDAQ:PAA) Reaches New 52-Week High - Time to Buy?

Key Points

• Plains All American Pipeline reached a new 52-week high, trading around $25.08 after closing at $24.61, while its average analyst rating remains “Hold” with a consensus price target of $23.54.
• The company reported quarterly EPS of $0.41, below the $0.50 analyst estimate, although revenue increased 66.3% year over year to $17.69 billion.
• Plains All American Pipeline 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) reached a new 52-week high during trading on Monday . The stock traded as high as $25.04 and last traded at $25.0750, with a volume of 1394408 shares trading hands. The stock had previously closed at $24.61.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PAA shares. UBS Group reissued a "buy" rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. The Goldman Sachs Group upgraded Plains All American Pipeline from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Barclays raised 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, July 16th. Finally, Citigroup lifted their target price on Plains All American Pipeline from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $23.54.

Plains All American Pipeline Price Performance

The firm has a market cap of $17.64 billion, a PE ratio of 6.92, a P/E/G ratio of 8.51 and a beta of 0.50. The firm's fifty day simple moving average is $23.21 and its two-hundred day simple moving average is $22.27. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The firm had revenue of $17.69 billion during the quarter. During the same period in the previous year, the business posted $0.36 earnings per share. Plains All American Pipeline's quarterly revenue was up 66.3% on a year-over-year basis. As a group, research analysts expect that Plains All American Pipeline Lp will post 1.77 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.4175 per share. The ex-dividend date of this dividend was 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 currently 46.26%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds have recently made changes to their positions in PAA. HB Wealth Management LLC grew its position in shares of Plains All American Pipeline by 3.4% during the second quarter. HB Wealth Management LLC now owns 15,988 shares of the company's stock worth $356,000 after purchasing an additional 525 shares in the last quarter. Angeles Wealth Management LLC lifted its holdings in Plains All American Pipeline by 4.2% in the 2nd quarter. Angeles Wealth Management LLC now owns 200,924 shares of the company's stock worth $4,473,000 after purchasing an additional 8,117 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Plains All American Pipeline by 1.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company's stock worth $671,000 after purchasing an additional 509 shares in the last quarter. NEOS Investment Management LLC boosted its stake in Plains All American Pipeline by 34.6% in the 2nd quarter. NEOS Investment Management LLC now owns 774,913 shares of the company's stock worth $17,250,000 after purchasing an additional 199,296 shares during the period. Finally, Archer Investment Corp purchased a new stake in Plains All American Pipeline during the 2nd quarter valued at approximately $178,000. Institutional investors 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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