JPMorgan Chase & Co. grew its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,851,712 shares of the pipeline company's stock after purchasing an additional 630,141 shares during the quarter. JPMorgan Chase & Co. owned about 1.12% of Plains All American Pipeline worth $134,107,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Plains All American Pipeline during the third quarter worth $27,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth about $27,000. Jones Financial Companies Lllp lifted its position in shares of Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 3,368 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Plains All American Pipeline in the 4th quarter valued at $97,000. Finally, Rothschild Investment LLC boosted its position in Plains All American Pipeline by 66.7% during the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company's stock worth $162,000 after acquiring an additional 3,800 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Raymond James lifted their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley upped their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 25th. Scotiabank cut their target price on shares of Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and a consensus price target of $20.23.
View Our Latest Report on Plains All American Pipeline
Plains All American Pipeline Stock Performance
PAA traded down $1.90 on Friday, hitting $17.34. 10,633,197 shares of the company's stock were exchanged, compared to its average volume of 3,086,003. Plains All American Pipeline, L.P. has a twelve month low of $16.21 and a twelve month high of $21.00. The firm has a market cap of $12.20 billion, a PE ratio of 23.75 and a beta of 1.17. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $19.89 and a two-hundred day moving average of $18.51.
Plains All American Pipeline Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.77%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline's payout ratio is currently 208.22%.
About Plains All American Pipeline
(
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.
Further Reading
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
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
