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Plains All American Pipeline L.P. (PAA) With A Potential Upside Of More Than -77.07%

Plains All American Pipeline L.P. (NASDAQ:PAA) price on Friday, March 17, fall -0.17% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $11.86.

A look at the stock’s price movement, the close in the last trading session was $11.88, moving within a range at $11.535 and $11.88. The PE ratio in trailing twelve months stood at 9.97. Turning to its 52-week performance, $13.49 and $9.10 were the 52-week high and 52-week low respectively. Overall, PAA moved -9.95% over the past month.

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Plains All American Pipeline L.P.’s market cap currently stands at around $8.37 billion, with investors looking forward to this quarter’s earnings report slated for May 02, 2023 – May 08, 2023. The company has a Forward Dividend ratio of 1.07, with its dividend yield at 9.02%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.35, which has seen fiscal year 2022 EPS growth forecast to increase to $1.28 and about $1.28 for fiscal year 2023.

Analysts have a consensus estimate of $14.2 billion for the company’s revenue for the quarter, with a low and high estimate of $12.95 billion and $15.32 billion respectively. The average forecast suggests up to a 9.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $59.12 billion, representing a 40.50% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that PAA is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.

23 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 8 analyst(s) rate the stock as a Hold, 14 recommend PAA as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

The technical evaluation for the stock shows the PEG ratio is 1.15, with PAA’s current price about -8.28% and -5.93% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 29.82, while 7-day volatility ratio is 4.00% and 2.44% in the 30-day chart. Further, Plains All American Pipeline L.P. (PAA) has a beta value of 1.67, and an average true range (ATR) of 0.35. Analysts have given the company’s stock an average 52-week price target of $15.34, forecast between a low of $13.00 and high of $21.00. Looking at the price targets, the low is -9.61% off current price level while to achieve the yearly target high, price needs to move -77.07%. Nonetheless, investors will most likely welcome a -26.48% jump to $15.00 which is the analysts’ median price.

In the market, a comparison of Plains All American Pipeline L.P. (PAA) and its peers suggest the former has performed considerably weaker. Data shows PAA’s intraday price has changed -0.17% in last session and 12.52% over the past year. Comparatively, NuStar Energy L.P. (NS) has moved -1.41% on the day and only 1.05% in the past 12 months. Looking at another peer, we see that Delek Logistics Partners LP (DKL) price has dipped -1.18% on the day. However, the stock is 31.04% off its price a year ago. Moreover, Enterprise Products Partners L.P. (EPD) is also down -0.67% in trading on the day while keeping a an uptrend of 3.94% over the past year. If we look at the PE ratio, we find that Plains All American Pipeline L.P.’s ratio stands at 9.97 compared to NuStar Energy L.P.’s 42.70 and Delek Logistics Partners LP’s 14.17. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on Plains All American Pipeline L.P. (NASDAQ:PAA), historical trading data shows that trading volumes averaged 5.14 million over the past 10 days and 4.38 million over the past 3 months. The company’s latest data on shares outstanding shows there are 698.00 million shares.

The 0.20% of Plains All American Pipeline L.P.’s shares are in the hands of company insiders while institutional holders own 42.70% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 33.1 million on Jan 12, 2023, giving us a short ratio of 7.96. The data shows that as of Jan 12, 2023 short interest in Plains All American Pipeline L.P. (PAA) stood at 4.74% of shares outstanding, with shares short falling to 35.57 million registered in Dec 14, 2022. Current price change has pushed the stock 0.85% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PAA stock continues to rise going into the next quarter.

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