Analyst Price Forecast Suggests 12.56% Upside
As of August 31, 2023, the average one-year price target for Plains All American Pipeline LP – Unit is 17.24. The forecasts range from a low of 14.14 to a high of $22.05. The average price target represents an increase of 12.56% from its latest reported closing price of 15.32.
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The projected annual revenue for Plains All American Pipeline LP – Unit is 66,892MM, an increase of 30.57%. The projected annual non-GAAP EPS is 1.37.
Plains All American Pipeline LP – Unit Declares $0.27 Dividend
On July 6, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.07 annualized). Shareholders of record as of July 31, 2023 received the payment on August 14, 2023. Previously, the company paid $0.27 per share.
At the current share price of $15.32 / share, the stock’s dividend yield is 6.98%.
Looking back five years and taking a sample every week, the average dividend yield has been 7.92%, the lowest has been 4.70%, and the highest has been 31.10%. The standard deviation of yields is 3.53 (n=236).
The current dividend yield is 0.26 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.55. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.49%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 384 funds or institutions reporting positions in Plains All American Pipeline LP – Unit. This is a decrease of 17 owner(s) or 4.24% in the last quarter. Average portfolio weight of all funds dedicated to PAA is 0.69%, an increase of 2.76%. Total shares owned by institutions increased in the last three months by 0.47% to 424,212K shares. The put/call ratio of PAA is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
AMLP – ALERIAN MLP ETF holds 61,808K shares representing 8.85% ownership of the company. In it’s prior filing, the firm reported owning 55,177K shares, representing an increase of 10.73%. The firm increased its portfolio allocation in PAA by 14.58% over the last quarter.
Alps Advisors holds 58,625K shares representing 8.39% ownership of the company. In it’s prior filing, the firm reported owning 62,838K shares, representing a decrease of 7.19%. The firm increased its portfolio allocation in PAA by 4.56% over the last quarter.
Invesco holds 29,931K shares representing 4.29% ownership of the company. In it’s prior filing, the firm reported owning 29,043K shares, representing an increase of 2.97%. The firm increased its portfolio allocation in PAA by 1,083.09% over the last quarter.
Tortoise Capital Advisors, L.l.c. holds 20,878K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 19,842K shares, representing an increase of 4.96%. The firm increased its portfolio allocation in PAA by 20.90% over the last quarter.
Goldman Sachs Group holds 19,437K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 20,133K shares, representing a decrease of 3.58%. The firm increased its portfolio allocation in PAA by 254.84% over the last quarter.
Plains All American Pipeline Background Information
(This description is provided by the company.)
Plains is a publicly-traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids and natural gas. The company owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles more than 6 million barrels per day of crude oil and NGL in its Transportation segment. The company is headquartered in Houston, Texas.
This article originally appeared on Fintel
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