During the last session, Plains All American Pipeline LP (NASDAQ:PAA)’s traded shares were 3.74 million, with the beta value of the company hitting 1.56. At the end of the trading day, the stock’s price was $18.56, reflecting an intraday gain of 1.48% or $0.27. The 52-week high for the PAA share is $18.52, that puts it up 0.22 from that peak though still a striking 34.97% gain since the share price plummeted to a 52-week low of $12.07. The company’s market capitalization is $13.01B, and the average intraday trading volume over the past 10 days was 3.37 million shares, and the average trade volume was 3.14 million shares over the past three months.
Plains All American Pipeline LP (NASDAQ:PAA) trade information
Plains All American Pipeline LP (PAA) registered a 1.48% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.48% in intraday trading to $18.56, hitting a weekly high. The stock’s 5-day price performance is 5.69%, and it has moved by 10.54% in 30 days. Based on these gigs, the overall price performance for the year is 44.32%. The short interest in Plains All American Pipeline LP (NASDAQ:PAA) is 11.17 million shares and it means that shorts have 4.28 day(s) to cover.
Plains All American Pipeline LP (PAA) estimates and forecasts
Statistics show that Plains All American Pipeline LP has underperformed its competitors in share price, compared to the industry in which it operates. Plains All American Pipeline LP (PAA) shares have gone up 28.80% during the last six months, with a year-to-date growth rate less than the industry average at -12.68% against 5.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -2.40% this quarter and then jump 8.00% in the quarter after that. In the rating firms’ projections, revenue will increase 5.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $13.22 billion as predicted by 7 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $13.09 billion by the end of Jun 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -12.41%. While earnings are projected to return -5.95% in 2024, the next five years will return -1.70% per annum.
PAA Dividends
Plains All American Pipeline LP is due to release its next quarterly earnings between May 03 and May 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Plains All American Pipeline LP is 1.12, with the dividend yield indicating at 6.03 percent, continuing the trend of increasing dividends in recent years.
Plains All American Pipeline LP (NASDAQ:PAA)’s Major holders
Plains All American Pipeline LP insiders own 34.00% of total outstanding shares while institutional holders control 41.99%, with the float percentage being 63.63%. Alps Advisors Inc. is the largest shareholder of the company, while 385 institutions own stock in it. As of Jun 29, 2023, the company held over 58.62 million shares (or 8.39% of all shares), a total value of $826.61 million in shares.
The next largest institutional holding, with 29.93 million shares, is of Invesco Ltd.’s that is approximately 4.29% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $422.03 million.
Also, the Mutual Funds coming in first place with the largest holdings of Plains All American Pipeline LP (PAA) shares are Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund. Data provided on May 30, 2023 indicates that Alps ETF Tr-Alerian MLP ETF owns about 61.81 million shares. This amounts to just over 8.85 percent of the company’s overall shares, with a $798.56 million market value. The same data shows that the other fund manager holds slightly less at 18.73 million, or about 2.68% of the stock, which is worth about $242.03 million.
