Plains All American Pipeline (NYSE:PAA) Reaches New 1-Year High – Still a Buy?

Plains All American Pipeline, L.P. (NYSE:PAA) shares reached a new 52-week high during trading on Friday . The stock traded as high as $20.83 and last traded at $20.75, with a volume of 88154 shares. The stock had previously closed at $20.70.

Analyst Ratings Changes

PAA has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Barclays lifted their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, February 9th. 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. Mizuho set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.18.

Plains All American Pipeline Price Performance

The company has a market cap of $14.74 billion, a PE ratio of 28.62 and a beta of 0.60. 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 firm has a 50 day simple moving average of $18.92 and a 200-day simple moving average of $17.75.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period last year, the company earned $0.42 EPS. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $0.4175 per share. The ex-dividend date was Friday, January 30th. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.0%. Plains All American Pipeline’s payout ratio is presently 100.60%.

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. acquired a new position in Plains All American Pipeline during the 3rd quarter valued at approximately $33,000. Caldwell Trust Co purchased a new position in Plains All American Pipeline in the 3rd quarter worth $38,000. Newbridge Financial Services Group Inc. lifted its position in Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 655 shares during the period. Aventura Private Wealth LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth about $42,000. Finally, Global Retirement Partners LLC grew its stake in Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 2,128 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.