Plains All American Pipeline L.P. (NASDAQ:PAA) shares traded 0.26% higher at $15.25 on Wall Street last session.
In accordance with the data, 19 analysts cover Plains All American Pipeline L.P. (NASDAQ:PAA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $14.50, we find $17.00. Given the previous closing price of $15.21, this indicates a potential upside of 11.77 percent. PAA stock price is now 4.19% away from the 50-day moving average and 16.41% away from the 200-day moving average. The market capitalization of the company currently stands at $10.69B.
It has been rated a hold by 8 analysts and a buy by 11. Brokers who have rated the stock have averaged $17.03 as their price target over the next twelve months.
With the price target enhanced from $16 to $17, Raymond James Upgraded its rating from Outperform to Strong Buy for Plains All American Pipeline L.P. (NASDAQ: PAA).
Insiders disposed of 778,777 shares of company stock worth roughly $11.88 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PAA stock. A new stake in Plains All American Pipeline L.P. shares was purchased by WESTWOOD HOLDINGS GROUP INC during the first quarter worth $48,623,000. CITADEL ADVISORS LLC invested $13,877,000 in shares of PAA during the first quarter. In the first quarter, SIMPLIFY ASSET MANAGEMENT INC. acquired a new stake in Plains All American Pipeline L.P. valued at approximately $9,913,000. HRT FINANCIAL LP acquired a new stake in PAA for approximately $3,591,000. JUMP FINANCIAL, LLC purchased a new stake in PAA valued at around $3,390,000 in the second quarter. In total, there are 367 active investors with 42.70% ownership of the company’s stock.
Plains All American Pipeline L.P. (NASDAQ: PAA) opened at $15.22 on Wednesday. During the past 12 months, Plains All American Pipeline L.P. has had a low of $10.17 and a high of $15.48. As of last week, the company has a debt-to-equity ratio of 0.99, a current ratio of 1.00, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $18.01B, which is based on a 9.41 price-to-earnings ratio, a 6.72 price-to-earnings-growth ratio, and a beta of 1.65. The fifty day moving average price for PAA is $14.67 and a two-hundred day moving average price translates $13.11 for the stock.
The latest earnings results from Plains All American Pipeline L.P. (NASDAQ: PAA) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.25, beating analysts’ expectations of $0.24 by 0.01. This compares to $0.36 EPS in the same period last year. The net profit margin was 2.20% and return on equity was 14.40% for PAA. The company reported revenue of $11.6 billion for the quarter, compared to $16.36 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -29.08 percent. For the current quarter, analysts expect PAA to generate $14.92B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/14/2023. Investors who held shares on 07/31/2023 were paid a $0.2675 dividend. On an annualized basis, this represents a $1.07 dividend and a 7.02% percent yield. There was an ex-dividend date of 07/28/2023 for this dividend. In terms of dividend payout ratio, PAA is presently at 59.90%.
Plains All American Pipeline L.P.(PAA) Company Profile
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. The Natural Gas Liquids segment provides gathering, fractionation, storage, transportation, and terminalling activities. This segment also involved in ethane, propane, normal butane, iso-butane, and natural gasoline, as well as crude oil refining processes. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.
