This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

5 Large-Caps Flirting With 52-Week Highs

5. Plains All American Pipeline (PAA - Get Report) is engaged in the transport and marketing of crude oil and petroleum products. It is also develops and operates natural gas storage facilities.

For the third quarter of 2011, PAA reported net income of $281 million, compared to $81 million in the year-ago quarter. EBITDA stood at $421 million, up 205%. The Supply & Logistics division registered 235% increase in profits, year over year. PAA declared quarterly distribution of $0.995 per unit, about 4.7% higher than the year-ago payout and 1.3% from the second quarter.

The company has increased the mid-point of 2011 adjusted EBITDA guidance by 26% to $1.5 billion from the initial guidance of $1.2 billion, an increase of 40% from fiscal year 2010. PAA is increasing its 2012 distribution growth target 8% to 9% over the current annualized distribution of $3.98 per common unit.

The company plans to convert an existing Oklahoma liquefied petroleum gas pipeline into a crude oil service, which, in turn, would provide the desired capacity for growing crude oil production in the region. This new service will provide initial crude oil throughput capacity of 12,000 barrels per day by January 2012 and increase to 25,000 barrels per day by Jul. 2012.

Earlier this month, PAA announced that Plains Midstream Canada ULC, a wholly owned subsidiary, has entered into a definitive agreement with BP to acquire its Canadian natural gas liquids and liquefied petroleum gas business for $1.67 billion.

The company is a rare combination of both value and income. It is trading with a P/E of 13.9, yet has a dividend yielding 6.2%. It is currently trading at $68.24 and has a 52-week high of $68.73. Of the 15 analysts covering the stock, 80% recommend a buy and the rest suggest a hold. Analysts' average 12-month price target for the stock is $72.09, about 5.6% higher than the current price, according to Bloomberg.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
DEO $118.85 0.00%
MCD $98.90 0.00%
PAA $49.89 0.00%
SBUX $93.48 0.00%
YUM $81.11 0.00%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs