ING Groep NV boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 194.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,892,637 shares of the pipeline company's stock after purchasing an additional 2,570,700 shares during the period. ING Groep NV owned about 0.55% of Plains All American Pipeline worth $66,486,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Plains All American Pipeline in the third quarter valued at about $27,000. Newbridge Financial Services Group Inc. bought a new position in Plains All American Pipeline during the fourth quarter valued at $27,000. Avior Wealth Management LLC grew its holdings in Plains All American Pipeline by 100.0% during the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company's stock valued at $139,000 after purchasing an additional 4,000 shares during the period. Westmount Partners LLC purchased a new stake in Plains All American Pipeline in the fourth quarter worth $177,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Plains All American Pipeline in the third quarter valued at $186,000. Institutional investors own 41.78% of the company's stock.
Wall Street Analysts Forecast Growth
PAA has been the subject of several research reports. Raymond James increased their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Scotiabank restated a "sector outperform" rating and set a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Barclays increased their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.21.
Get Our Latest Stock Report on PAA
Plains All American Pipeline Price Performance
Shares of PAA stock traded down $0.20 during trading on Monday, hitting $20.29. The company had a trading volume of 2,645,055 shares, compared to its average volume of 4,433,713. Plains All American Pipeline, L.P. has a 52 week low of $16.18 and a 52 week high of $21.00. The stock's 50-day moving average is $19.00 and its two-hundred day moving average is $18.04. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 27.90 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.
Plains All American Pipeline Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. This is a boost from Plains All American Pipeline's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline's dividend payout ratio is presently 208.22%.
Plains All American Pipeline Profile
(
Free Report)
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.
See Also
Before you consider Plains All American Pipeline, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plains All American Pipeline wasn't on the list.
While Plains All American Pipeline currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
