Plains All American Pipeline LP (NASDAQ:PAA) has a beta value of 1.56 and has seen 1.7 million shares traded in the recent trading session. The company, currently valued at $13.20B, closed the recent trade at $18.83 per share which meant it lost -$0.05 on the day or -0.29% during that session. The PAA stock price is -1.06% off its 52-week high price of $19.03 and 35.9% above the 52-week low of $12.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.6 million shares traded. The 3-month trading volume is 3.18 million shares.
Plains All American Pipeline LP (NASDAQ:PAA) trade information
Sporting -0.29% in the red today, the stock has traded in the green over the last five days, when the PAA stock price touched $18.83 or saw a rise of 1.05%. Year-to-date, Plains All American Pipeline LP shares have moved 24.26%, while the 5-day performance has seen it change 5.70%. Over the past 30 days, the shares of Plains All American Pipeline LP (NASDAQ:PAA) have changed 12.59%. Short interest in the company has seen 11.17 million shares shorted with days to cover at 4.28.
Plains All American Pipeline LP (PAA) estimates and forecasts
Figures show that Plains All American Pipeline LP shares have underperformed across the wider relevant industry. The company’s shares have gained 30.37% over the past 6 months, with this year growth rate of -12.68%, compared to 5.80% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -2.40% and 8.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 5.70%.
7 analysts offering their estimates for the company have set an average revenue estimate of $13.22 billion for the current quarter. 6 have an estimated revenue figure of $13.09 billion for the next quarter concluding in Jun 2024.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -12.41% over the past 5 years. Earnings growth for 2024 is a modest -6.83% while over the next 5 years, the company’s earnings are expected to decrease by -1.70%.
PAA Dividends
Plains All American Pipeline LP is expected to release its next earnings report on May 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.12 at a share yield of 5.95%. The company’s dividend yield has gone up over the past 12 months.
Plains All American Pipeline LP (NASDAQ:PAA)’s Major holders
Insiders own 34.00% of the company shares, while shares held by institutions stand at 41.99% with a share float percentage of 63.63%. Investors are also buoyed by the number of investors in a company, with Plains All American Pipeline LP having a total of 385 institutions that hold shares in the company. The top two institutional holders are Alps Advisors Inc. with over 58.62 million shares worth more than $826.61 million. As of Jun 29, 2023, Alps Advisors Inc. held 8.39% of shares outstanding.
The other major institutional holder is Invesco Ltd., with the holding of over 29.93 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $422.03 million and represent 4.29% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund. As of May 30, 2023, the former fund manager holds about 8.85% shares in the company for having 61.81 million shares of worth $798.56 million while later fund manager owns 18.73 million shares of worth $242.03 million as of May 30, 2023, which makes it owner of about 2.68% of company’s outstanding stock.
