Plains All American Pipeline (NASDAQ:PAA) Sets New 52-Week High – Should You Buy?

Plains All American Pipeline Lp (NASDAQ:PAA)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $25.97 and last traded at $25.9730, with a volume of 2275311 shares. The stock had previously closed at $25.70.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PAA. Wall Street Zen cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Morgan Stanley raised their price target on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Mizuho increased their target price 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. Wells Fargo & Company lifted their price target on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.08.

Plains All American Pipeline Stock Up 1.1%

The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 7.19, a P/E/G ratio of 9.22 and a beta of 0.52. The business’s 50-day moving average is $24.05 and its 200-day moving average is $22.72.

Plains All American Pipeline (NASDAQ:PAA) last posted its earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). The firm had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. Plains All American Pipeline’s quarterly revenue was up 66.3% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. As a group, equities analysts predict that Plains All American Pipeline Lp will post 1.71 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 dividend yield of 6.4%. Plains All American Pipeline’s dividend payout ratio is presently 46.26%.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Life Planners purchased a new stake in shares of Plains All American Pipeline in the 1st quarter valued at approximately $27,000. Allied Private Wealth LLC purchased a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $33,000. Fulcrum Asset Management LLP acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $50,000. Geneos Wealth Management Inc. boosted its stake in shares of Plains All American Pipeline by 93.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock valued at $78,000 after buying an additional 2,041 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the 1st quarter valued at $80,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.