Invesco Advisers, Inc. has recently announced that it has increased stake in Plains All American Pipeline L.P. (NASDAQ:PAA) by 10.91%. After grabbing 25.01 million shares, the institutional investor is now in possession of 2.46 million shares of the Energy Company. The new investment brought the stake of investor firm to 3.58% having worth around $299.4 million. Moreover, Tortoise Capital Advisors LLC increased its share by 1.17 million to have a control over 21.87 million shares. And Goldman Sachs Asset Management LP raised its holdings to 0.11 million shares by acquiring 13.89 million shares or 1.99% of the stake.
Plains All American Pipeline L.P. (PAA) concluded trading on 11/30/22 at a closing price of $12.42, with 7.11 million shares of worth about $88.3 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.06% during that period and on Wednesday the price saw a gain of about 0.08%. Currently the company’s common shares owned by public are about 698.00M shares, out of which, 452.28M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the PAA stock and their offered price forecasts bring an average price target of $15.11. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $13.00. The stock’s current price level is 15.74% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.46% for the stock. However, touching the estimated high of $20.00 would mean a gain of 37.9% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 27 times over the past 12 months. They bought 628,714 shares in 12 of the transactions. In 15 selling transactions, insiders dumped 912,518 shares.
Alerian MLP ETF, Invesco SteelPath MLP Income Fund, and Kayne Anderson MLP/Midstream Inve are the top 3 mutual funds which are holding stakes in Plains All American Pipeline L.P. Alerian MLP ETF is currently holding 58.68 million shares of worth totaling $702.42 million. The company recently came buying 0.2 million shares which brought its stake up to 8.41% of the company’s outstanding shares. Invesco SteelPath MLP Income Fund bought 3.1 million shares, after which its hold over company’s outstanding shares expand to 1.68%, leaving 11.73 million shares with the mutual fund that have a worth of about $140.45 million. Kayne Anderson MLP/Midstream Inve, after buying 9.52 million shares, have now control over 1.36% of the stake in the company. It holds 0.9 million shares of worth $113.93 million.
However, the stock later moved at a day high price of 12.52, or with a gain of 0.08%. Stock saw a price change of 0.00% in past 5 days and over the past one month there was a price change of 3.76%. Year-to-date (YTD), PAA shares are showing a performance of 32.98% which increased to 33.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.64 but also hit the highest price of $12.75 during that period. The average intraday trading volume for Plains All American Pipeline L.P. shares is 5.33 million. The stock is currently trading 0.87% above its 20-day simple moving average (SMA20), while that difference is up 6.08% for SMA50 and it goes to 11.54% higher than SMA200.
Invesco Advisers, Inc. acquired 25.01 million shares of Plains All American Pipeline L.P. having value of about $299.4 million. Data submitted at the U.S SEC by Invesco Advisers, Inc. revealed that the firm now holds 2.46 million shares in the company valued at close to $30551150.7, or have control over 10.91% stake in the company. Plains All American Pipeline L.P. (NASDAQ: PAA) currently have 698.00M outstanding shares and institutions hold larger chunk of about 42.80% of that. Holding of mutual funds in the company is about 21.53% while other institutional holders and individual stake holders have control over 47.05% and 19.98% of the stake respectively.
The stock has a current market capitalization of $8.78B and its 3Y-monthly beta is at 1.68. PE ratio of stock for trailing 12 months is 8.54, while it has posted earnings per share of $1.46 in the same period. Its PEG reads 0.98 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 1.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PAA, volatility over the week remained 1.73% while standing at 2.47% over the month.
Analysts are in expectations that Plains All American Pipeline L.P. (PAA) stock would likely to be making an EPS of $0.26 in the current quarter, while forecast for next quarter EPS is $0.36 and it is $1.29 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.16 which is $0.37 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.22 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 114.30% while it is estimated to increase by 4.87% in next year. EPS is likely to grow at an annualized rate of 8.70% for next 5-years, compared to annual growth of 5.00% made by the stock over the past 5-years.
Analysts at 22 brokerage firms have issued recommendations for the Plains All American Pipeline L.P. (PAA)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 22 Wall Street analysts, 12 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on November 21, 2022 offering a Neutral rating for the stock and assigned a target price range of between $15 and $14 to it. Coverage by Stifel stated Plains All American Pipeline L.P. (PAA) stock as a Buy in their note to investors on August 15, 2022, suggesting a price target of $16 for the stock. Stock get a Neutral rating from BofA Securities on July 19, 2022.
