Plains All American Pipeline (NYSE:PAA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Plains All American Pipeline, L.P. (NYSE:PAA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.58 and traded as high as $19.22. Plains All American Pipeline shares last traded at $19.14, with a volume of 3,186,299 shares changing hands.

Wall Street Analyst Weigh In

PAA has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Plains All American Pipeline in a report on Friday, January 16th. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays cut their target price on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $22.00 target price (down from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.44.

Plains All American Pipeline Price Performance

The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average price is $17.89 and its 200-day moving average price is $17.58. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 26.22 and a beta of 0.59.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 8.7%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, January 30th. Plains All American Pipeline’s payout ratio is currently 138.02%.

Institutional Trading of Plains All American Pipeline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAA. Blue Trust Inc. lifted its position in Plains All American Pipeline by 76.1% during the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 761 shares during the period. Mather Group LLC. bought a new stake in shares of Plains All American Pipeline during the third quarter worth approximately $33,000. Caldwell Trust Co acquired a new position in Plains All American Pipeline in the third quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. boosted its stake in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 655 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth $42,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.