Plains All American Pipeline, L.P. (NYSE:PAA – Get Free Report) was the target of unusually large options trading on Thursday. Stock investors bought 60,729 call options on the stock. This is an increase of approximately 1,266% compared to the average daily volume of 4,446 call options.
Wall Street Analyst Weigh In
PAA has been the subject of a number of research analyst reports. Scotiabank reissued a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Raymond James lifted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Finally, Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.21.
Check Out Our Latest Research Report on Plains All American Pipeline
Plains All American Pipeline Trading Up 1.6 %
Plains All American Pipeline (NYSE:PAA – Get Free Report) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter last year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts predict that Plains All American Pipeline will post 1.17 EPS for the current year.
Plains All American Pipeline Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.38 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.25%. The ex-dividend date is Friday, January 31st. Plains All American Pipeline’s payout ratio is currently 113.39%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Plains All American Pipeline by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after acquiring an additional 2,677,951 shares during the period. Chickasaw Capital Management LLC grew its holdings in shares of Plains All American Pipeline by 1.0% during the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after purchasing an additional 42,383 shares in the last quarter. Citigroup Inc. increased its position in shares of Plains All American Pipeline by 48.9% during the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after purchasing an additional 1,125,386 shares during the period. Miller Howard Investments Inc. NY raised its stake in shares of Plains All American Pipeline by 1.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock valued at $44,594,000 after purchasing an additional 38,062 shares in the last quarter. Finally, Barclays PLC lifted its position in Plains All American Pipeline by 1.6% in the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after purchasing an additional 32,061 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.
Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.
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