The price of Plains All American Pipeline L.P. (NASDAQ:PAA) shares last traded on Wall Street fell -0.59% to $15.14.
Based on available information, 20 analysts follow 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 $14.00, we find $17.00. Given the previous closing price of $15.23, this indicates a potential upside of 11.62 percent. PAA stock price is now 6.03% away from the 50-day moving average and 16.89% away from the 200-day moving average. The market capitalization of the company currently stands at $10.42B.
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Among analysts, 8 rate the stock a hold while 12 rate it a buy. Brokers who have rated the stock have averaged $16.74 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 $11.79 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 $48,272,000. CITADEL ADVISORS LLC invested $13,777,000 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 $9,841,000. HRT FINANCIAL LP acquired a new stake in PAA for approximately $3,565,000. JUMP FINANCIAL, LLC purchased a new stake in PAA valued at around $3,366,000 in the second quarter. In total, there are 367 active investors with 42.70% ownership of the company’s stock.
A candlestick chart of Plains All American Pipeline L.P. (NASDAQ: PAA) showed a price of $15.22 on Wednesday morning. During the past 12 months, Plains All American Pipeline L.P. has had a low of $10.17 and a high of $15.35. 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 $18.00B, which is based on a 9.35 price-to-earnings ratio, a 6.68 price-to-earnings-growth ratio, and a beta of 1.64. The fifty day moving average price for PAA is $14.31 and a two-hundred day moving average price translates $12.97 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 $15.12B 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 7.07% 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%.
