Jump Financial LLC lifted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 57.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 488,673 shares of the pipeline company's stock after purchasing an additional 178,245 shares during the quarter. Jump Financial LLC owned 0.07% of Plains All American Pipeline worth $8,347,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in PAA. Invesco Ltd. grew its holdings in Plains All American Pipeline by 4.6% during the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock worth $475,301,000 after acquiring an additional 1,224,381 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Plains All American Pipeline by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company's stock worth $134,107,000 after buying an additional 630,141 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Plains All American Pipeline by 30.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock valued at $92,470,000 after buying an additional 1,162,933 shares during the period. Barclays PLC raised its position in shares of Plains All American Pipeline by 110.4% during the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company's stock worth $72,186,000 after acquiring an additional 2,218,014 shares during the last quarter. Finally, ING Groep NV lifted its stake in shares of Plains All American Pipeline by 194.5% during the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company's stock valued at $66,486,000 after acquiring an additional 2,570,700 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PAA. Morgan Stanley raised their price objective on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 25th. Scotiabank cut their target price on 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. Barclays decreased their target price on Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Wolfe Research raised 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. Finally, Raymond James boosted their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $20.36.
Check Out Our Latest Stock Analysis on PAA
Plains All American Pipeline Stock Down 2.8 %
Shares of NYSE PAA traded down $0.49 during mid-day trading on Monday, hitting $17.25. The company had a trading volume of 807,337 shares, compared to its average volume of 3,062,180. 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 firm has a 50-day simple moving average of $19.14 and a two-hundred day simple moving average of $18.45. The company has a market capitalization of $12.14 billion, a PE ratio of 23.63 and a beta of 1.17. Plains All American Pipeline, L.P. has a one year low of $15.58 and a one year high of $21.00.
Plains All American Pipeline Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.81%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline's dividend payout ratio (DPR) is 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.
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
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
