Plains All American Pipeline (NYSE:PAA) Hits New 52-Week High - What's Next?

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $20.80 and last traded at $20.57, with a volume of 4021260 shares traded. The stock had previously closed at $20.06.

Wall Street Analysts Forecast Growth

PAA has been the subject of several recent analyst reports. Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Barclays increased their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 price objective on the stock. Morgan Stanley cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Scotiabank reissued a "sector outperform" rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.92.

Plains All American Pipeline Price Performance

The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 18.38 and a beta of 1.64. The business has a 50 day simple moving average of $17.94 and a 200-day simple moving average of $17.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.35 EPS. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts expect that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Plains All American Pipeline's previous quarterly dividend of $0.32. Plains All American Pipeline's payout ratio is presently 113.39%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. PFG Investments LLC boosted its holdings in shares of Plains All American Pipeline by 47.0% in the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company's stock worth $771,000 after buying an additional 14,432 shares during the last quarter. Stablepoint Partners LLC raised its holdings in shares of Plains All American Pipeline by 18.6% in the 4th quarter. Stablepoint Partners LLC now owns 19,125 shares of the pipeline company's stock worth $327,000 after purchasing an additional 3,000 shares during the period. Eclectic Associates Inc. ADV lifted its stake in Plains All American Pipeline by 7.6% in the fourth quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company's stock valued at $207,000 after purchasing an additional 854 shares during the last quarter. Hengehold Capital Management LLC grew its holdings in Plains All American Pipeline by 61.2% during the fourth quarter. Hengehold Capital Management LLC now owns 80,970 shares of the pipeline company's stock valued at $1,383,000 after purchasing an additional 30,745 shares during the period. Finally, Secure Asset Management LLC purchased a new stake in Plains All American Pipeline in the fourth quarter worth $249,000. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Company Profile

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.