Plains All American Pipeline L.P. (NASDAQ:PAA) finished Wednesday with an addition of $0.02 to close at $15.35, an upside of 0.13 percent. An average of 4,209,460 shares of common stock have been traded in the last five days. There was a gain of $0.21 in the past week, and it reached a new high 40 times over the past 12 months. The last 20 days have seen an average of 3,753,895 shares traded, while the 50-day average volume stands at 3,642,998.
PAA stock has increased by 2.88% in the last month. The company shares reached their 1-month lowest point of $14.40 on 08/03/23. With the stock rallying to its 52-week high on 08/22/23, shares of the company touched a low of $10.17 and a high of $15.48 in 52 weeks. It has reached a new high 44 times so far this year and achieved 30.53% or $3.59 in price. In spite of this, the price is down -0.84% from the 52-week high.
Valuation Metrics
Plains All American Pipeline L.P. (PAA) has a trailing price-to-earnings (P/E) ratio of 9.48. The stock’s beta is 1.62. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.21, the price-to-book (PB) ratio at 1.33, and the price-to-cash flow ratio at 4.51.
Financial Health
The quick ratio of Plains All American Pipeline L.P. for the three months ended June 29 was 0.90, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.90 and a total debt to equity ratio of 0.99 for the quarter ending June 29. Plains All American Pipeline L.P.’s EBITDA margin for the year ending June 29 is 3.90%, while its operating margin for the same period stands at 3.50%. Its gross profit as reported stood at $2.85 billion compared to revenue of $57.34 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Plains All American Pipeline L.P.’s return on assets was 4.10%.
Earnings Surprise
For the three-month period that ended June 29, Plains All American Pipeline L.P. had $7.24 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $293.0 million in the quarter, while revenues were grew 30.72%. The analyst consensus anticipated Plains All American Pipeline L.P.’s latest quarter earnings to come in at $0.24 per share, but it turned out to be $0.25, a 4.20% surprise. For the quarter, EBITDA amounted to $637.0 million. Shareholders own equity worth $698.39 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Plains All American Pipeline L.P. (PAA) price momentum. RSI 9-day as of the close on 23 August was 63.25%, suggesting the stock is Neutral, with historical volatility in this time frame at 13.25%.
As of today, PAA’s price is $15.29 +1.39% or $0.21 from its 5-day moving average. PAA is currently trading +2.68% higher than its 20-day SMA and +23.89% higher than its 100-day SMA. However, the stock’s current price level is +16.46% above the SMA50 and +23.59% above the SMA200.
The stochastic %K and %D were 89.69% and 89.74%, respectively, and the average true range (ATR) was 0.24. With the 14-day stochastic at 86.73% and the average true range at 0.24, the RSI (14) stands at 63.12%. The stock has reached 0.10 on the 9-day MACD Oscillator while the 14-day reading was at 0.19.
Analyst Ratings
Raymond James upgraded Plains All American Pipeline L.P. (NASDAQ: PAA) to a a Strong buy rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Plains All American Pipeline L.P. (PAA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PAA, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 11 others rate it as a “buy”.
What is PAA’s price target for the next 12 months?
Analysts predict a range of price targets between $14.50 and $21.00, with a median target of $17.00. Taking a look at these predictions, the average price target given by analysts for Plains All American Pipeline L.P. (PAA) stock is $16.97.
