Plains All American Pipeline LP (NASDAQ:PAA) saw a downside of -3.06% to close Tuesday at $15.19 after subtracting -$0.48 on the day. The 5-day average trading volume is 8,523,500 shares of the company’s common stock. It has gained $16.05 in the past week and touched a new high 3 times within the past 5 days. An average of 4,881,185 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,133,740.
PAA’s 1-month performance is 0.07% or $0.01 on its low of $14.65 reached on 09/11/23. The company’s shares have touched a 52-week low of $10.17 and high of $16.05, with the stock’s rally to the 52-week high happening on 09/22/23. YTD, PAA has achieved 29.17% or $3.43 and has reached a new high 48 times. However, the current price is down -5.33% from the 52-week high price.
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Valuation Metrics
PAA stock has a beta of 1.62. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.21 while the price-to-book (PB) in the most recent quarter is 1.31, with the price to cash flow ratio at 4.47.
Plains All American Pipeline LP’s quick ratio for the period ended June 29 was 0.92, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.73, while the total debt to equity was 0.80.. In terms of profitability, the gross margin trailing 12 months is 2.80%. The trailing 12-month EBITDA margin is 3.90% while for the period ending June 29, Plains All American Pipeline LP’s operating margin was 2.14%. The firm’s gross profit as reported stood at $2.85 billion against revenue of $57.34 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 30.72% to $293.0 million, while revenue of $422.0 million was -44.03% off the previous quarter. Analysts expected PAA to announce $0.24 per share in earnings in its latest quarter, but it posted $0.25, representing a 4.20% surprise. EBITDA for the quarter stood at more than $637.0 million. PAA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 13.3 billion, with total debt at $8.3 billion. Shareholders hold equity totaling $698.39 million.
Let’s look briefly at Plains All American Pipeline LP (PAA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 45.25% to suggest the stock is trending Neutral, with historical volatility in this time period at 21.48%.
The stock’s 5-day moving average is $15.59, reflecting a -1.62% or -$0.25 change from its current price. PAA is currently trading +0.46% above its 20-day SMA, +22.90% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +5.41% and SMA200 by+28.95%.
Stochastic %K and %D was 64.52% and 77.94% and the average true range (ATR) pointed at 0.29. The RSI (14) points at 49.18%, while the 14-day stochastic is at 38.71% with the period’s ATR at 0.27. The stock’s 9-day MACD Oscillator is pointing at 0.11 and 0.33 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Plains All American Pipeline LP (NASDAQ: PAA), Barclays downgraded it to an Underweight rating. They previously had an Equal weight rating on the stock. Analysts offering their rating for PAA stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate PAA as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 11 have offered a “buy” rating.
What is PAA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $14.50 and a high of $20.00, with their median price target at $17.00. Looking at these predictions, the average price target given by analysts is for Plains All American Pipeline LP (PAA) stock is $16.88.
