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Performance & Trends Of Plains All American Pipeline L.P. (NASDAQ: PAA) Stock

In the latest trading session, 2.27 million Plains All American Pipeline L.P. (NASDAQ:PAA) shares changed hands as the company’s beta touched 1.67. With the company’s most recent per share price at $11.84 changed hands at -$0.5 or -4.06% at last look, the market valuation stands at $8.71B. PAA’s current price is a discount, trading about -13.94% off its 52-week high of $13.49. The share price had its 52-week low at $9.10, which suggests the last value was 23.14% up since then. When we look at Plains All American Pipeline L.P.’s average trading volume, we note the 10-day average is 4.09 million shares, with the 3-month average coming to 4.39 million.

Analysts gave the Plains All American Pipeline L.P. (PAA) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 23 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended PAA as a Hold, 14 felt it is a Buy and 0 rated the stock as Underweight. Plains All American Pipeline L.P.’s EPS for the current quarter is expected to be $0.35.

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Plains All American Pipeline L.P. (NASDAQ:PAA) trade information

Instantly PAA was in red as seen in intraday trades today. With action -9.97%, the performance over the past five days has been red. The drop to weekly highs of 13.29 on Tuesday, 03/14/23 subtracted -4.06% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.67%, with the 5-day performance at -9.97% in the red. However, in the 30-day time frame, Plains All American Pipeline L.P. (NASDAQ:PAA) is -7.80% down. Looking at the short shares, we see there were 33.1 million shares sold at short interest cover period of 7.96 days.

The consensus price target for the stock as assigned by Wall Street analysts is $15.34, meaning bulls need an upside of 22.82% from its recent market value. According to analyst projections, PAA’s forecast low is $13.00 with $21.00 as the target high. To hit the forecast high, the stock’s price needs a -77.36% plunge from its current level, while the stock would need to soar -9.8% for it to hit the projected low.

Plains All American Pipeline L.P. (PAA) estimates and forecasts

Data shows that the Plains All American Pipeline L.P. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -0.35% over the past 6 months, a -9.52% in annual growth rate that is considerably lower than the industry average of 10.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Plains All American Pipeline L.P. will rise 40.00%, while the growth in revenue is estimated to hit 6.50% for the next quarter. Year-over-year growth is forecast to reach 40.50% up from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $14.2 billion. 6 analysts are of the opinion that Plains All American Pipeline L.P.’s revenue for the quarter ending Mar 2023 will be $16.71 billion. The company’s revenue for the corresponding quarters a year ago was $12.95 billion and $13.69 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.60%. The estimates for the next quarter sales put growth at 22.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -10.80%. The 2023 estimates are for Plains All American Pipeline L.P. earnings to increase by 116.00%, but the outlook for the next 5-year period is at 8.70% per year.

PAA Dividends

Plains All American Pipeline L.P. is expected to release its next quarterly earnings report between May 02 and May 08. The 8.67% annual yield figure for the share gives it an annual dividend of 1.07. It is important to note, however, that the 8.67% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Plains All American Pipeline L.P. (NASDAQ:PAA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 35.22% of Plains All American Pipeline L.P. shares while 42.42% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 65.49%. There are 42.42% institutions holding the Plains All American Pipeline L.P. stock share, with Alps Advisors Inc. the top institutional holder. As of Sep 29, 2022, the company held 7.71% of the shares, roughly 56.14 million PAA shares worth $590.57 million.

Invesco Ltd. holds the second largest percentage of outstanding shares, with 3.56% or 25.93 million shares worth $272.77 million as of Sep 29, 2022.

Among Mutual Funds, the top two as of Nov 29, 2022 were Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund. With 58.94 million shares estimated at $731.99 million under it, the former controlled 8.09% of total outstanding shares. On the other hand, Invesco Steelpath MLP Income Fund held about 1.89% of the shares, roughly 13.73 million shares worth around $170.57 million.

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