Some Investing Thoughts On Plains All American Pipeline LP (NASDAQ: PAA)

Plains All American Pipeline LP (PAA) concluded trading on Wednesday at a closing price of $18.16, with 5.01 million shares of worth about $90.95 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 19.63% during that period and on April 3, 2024 the price saw a gain of about 1.97%. Currently the company’s common shares owned by public are about 701.01M shares, out of which, 459.06M shares are available for trading.

However, the stock later moved at a day high price of 18.29, or with a gain of 1.97%. Stock saw a price change of 6.39% in past 5 days and over the past one month there was a price change of 9.33%. Year-to-date (YTD), PAA shares are showing a performance of 19.87% which increased to 45.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.07 but also hit the highest price of $17.85 during that period. The average intraday trading volume for Plains All American Pipeline LP shares is 3.07 million. The stock is currently trading 6.41% above its 20-day simple moving average (SMA20), while that difference is up 10.88% for SMA50 and it goes to 18.07% higher than SMA200.

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Plains All American Pipeline LP (NASDAQ: PAA) currently have 701.01M outstanding shares and institutions hold larger chunk of about 41.32% of that.

The stock has a current market capitalization of $12.73B and its 3Y-monthly beta is at 1.57. PE ratio of stock for trailing 12 months is 13.01, while it has posted earnings per share of $1.40 in the same period. It has Quick Ratio of 0.87 while making debt-to-equity ratio of 0.78. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PAA, volatility over the week remained 1.62% while standing at 1.42% over the month.

Analysts are in expectations that Plains All American Pipeline LP (PAA) stock would likely to be making an EPS of $0.4 in the current quarter, while forecast for next quarter EPS is $0.27 and it is $1.37 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.21 which is $0.53 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.41 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -5.95% while it is estimated to increase by 0.61% in next year. EPS is likely to grow at an annualized rate of -1.70% for next 5-years, compared to annual growth of -12.41% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on October 06, 2023 offering a Sell rating for the stock and assigned a target price of $13.50 to it. Coverage by Barclays stated Plains All American Pipeline LP (PAA) stock as an Underweight in their note to investors on September 25, 2023, suggesting a price target of $15 for the stock. On September 06, 2023, Citigroup Downgrade their recommendations, while on April 21, 2023, Raymond James Upgrade their ratings for the stock with a price target of $17. Stock get a Mkt perform rating from Bernstein on February 07, 2023.

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