The stock of Plains All American Pipeline, L.P. (NYSE:PAA) hit a new 52-week high and has $34.26 target or 6.00% above today’s $32.32 share price. The 9 months bullish chart indicates low risk for the $14.83 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $34.26 price target is reached, the company will be worth $889.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 1.91% or $0.63 on December 1, hitting $32.32. About 2.72 million shares traded hands or 13.81% up from the average. Plains All American Pipeline, L.P. (NYSE:PAA) has risen 46.90% since April 28, 2016 and is uptrending. It has outperformed by 40.98% the S&P500.
Analysts await Plains All American Pipeline, L.P. (NYSE:PAA) to report earnings on February, 13. They expect $0.42 EPS, up 75.00% or $0.18 from last year’s $0.24 per share. PAA’s profit will be $192.72 million for 19.24 P/E if the $0.42 EPS becomes a reality. After $0.40 actual EPS reported by Plains All American Pipeline, L.P. for the previous quarter, Wall Street now forecasts 5.00% EPS growth.
Plains All American Pipeline, L.P. (NYSE:PAA) Ratings Coverage
Out of 24 analysts covering Plains All American Pipeline LP (NYSE:PAA), 7 rate it a “Buy”, 1 “Sell”, while 16 “Hold”. This means 29% are positive. Plains All American Pipeline LP has been the topic of 52 analyst reports since August 6, 2015 according to StockzIntelligence Inc. FBR Capital initiated it with “Mkt Perform” rating and $30 target price in Friday, September 9 report. On Wednesday, August 31 the stock rating was reinitiated by Wunderlich with “Hold”. The rating was maintained by Oppenheimer on Thursday, November 5 with “Outperform”. The stock of Plains All American Pipeline, L.P. (NYSE:PAA) has “Neutral” rating given on Wednesday, January 13 by JP Morgan. The firm earned “Buy” rating on Friday, August 7 by Citigroup. On Friday, September 11 the stock rating was downgraded by Goldman Sachs to “Sell”. Scotia Capital maintained the stock with “Sector Outperform” rating in Monday, August 24 report. On Monday, January 4 the stock rating was downgraded by Raymond James to “Mkt Perform”. The firm has “Neutral” rating given on Wednesday, July 13 by Robert W. Baird. Bank of America downgraded the shares of PAA in a report on Tuesday, February 9 to “Neutral” rating.
According to Zacks Investment Research, “Plains All American Pipeline, L.P. is engaged in interstate and intrastate marketing, transportation and terminalling of crude oil.”
Insitutional Activity: The institutional sentiment increased to 1.34 in Q2 2016. Its up 0.36, from 0.98 in 2016Q1. The ratio improved, as 38 funds sold all Plains All American Pipeline, L.P. shares owned while 124 reduced positions. 57 funds bought stakes while 101 increased positions. They now own 240.10 million shares or 4.07% less from 250.29 million shares in 2016Q1.
Baldwin Ltd Liability owns 9,800 shares or 0.12% of their US portfolio. Commonwealth Equity Services, a Massachusetts-based fund reported 71,210 shares. Orleans Cap Corp La has 0.16% invested in the company for 8,350 shares. Tiedemann Trust Commerce holds 3.04% or 599,003 shares in its portfolio. Spirit Of America Management Corporation Ny owns 190,339 shares or 0.77% of their US portfolio. Segment Wealth Ltd Liability holds 0.7% of its portfolio in Plains All American Pipeline, L.P. (NYSE:PAA) for 61,593 shares. The Texas-based Argentus Capital Management Lc has invested 0.04% in Plains All American Pipeline, L.P. (NYSE:PAA). Vantage Advsrs Lc accumulated 120 shares or 0% of the stock. Sg Americas Ltd Liability Co holds 0.03% of its portfolio in Plains All American Pipeline, L.P. (NYSE:PAA) for 138,731 shares. Franklin Resources last reported 0% of its portfolio in the stock. The Iowa-based Fire Gru has invested 0.07% in Plains All American Pipeline, L.P. (NYSE:PAA). Telemus Cap Ltd Liability Co last reported 0.05% of its portfolio in the stock. Alliancebernstein Limited Partnership has 71,136 shares for 0% of their US portfolio. Parkside Finance National Bank holds 0.05% or 3,428 shares in its portfolio. Webster National Bank & Trust N A holds 0.04% or 8,677 shares in its portfolio.
Insider Transactions: Since August 18, 2016, the stock had 0 insider buys, and 2 insider sales for $1.58 million net activity. Another trade for 35,410 shares valued at $1.06M was made by vonBerg John on Thursday, August 18. DUCKETT W DAVID also sold $515,804 worth of Plains All American Pipeline, L.P. (NYSE:PAA) shares.
More recent Plains All American Pipeline, L.P. (NYSE:PAA) news were published by: Reuters.com which released: “BRIEF-John Raymond reports 7.2 pct stake in Plains All American Pipeline a…” on November 25, 2016. Also Businesswire.com published the news titled: “Plains All American Pipeline, L.P. and Plains GP Holdings, L.P. Announce …” on November 15, 2016. Seekingalpha.com‘s news article titled: “Plains All American Pipeline LP (PAA) Q3 2016 Results – Earnings Call Transcript” with publication date: November 04, 2016 was also an interesting one.
PAA Company Profile
Plains All American Pipeline, L.P., incorporated on September 17, 1998, owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Firm operates through three divisions: Transportation, Facilities, and Supply and Logistics. Through its divisions, the Company is engaged in the transportation, storage, terminalling and marketing of crude oil, NGL and natural gas. The majority of its activities are focused on crude oil, which is the principal feedstock used by refineries in the production of transportation fuels. The Firm owns a network of pipeline transportation, terminalling, storage and gathering assets in crude oil and NGL producing basins and transportation corridors and at market hubs in the United States and Canada.
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