Plains All American Pipeline (NYSE:PAA) Reaches New 1-Year Low - Here's Why

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) shares hit a new 52-week low on Monday . The company traded as low as $15.94 and last traded at $16.17, with a volume of 1029841 shares changing hands. The stock had previously closed at $17.34.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAA. Barclays cut their price objective on shares of Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Thursday. Wells Fargo & Company downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Scotiabank reduced their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Finally, Morgan Stanley raised their price target on Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have given 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, the company presently has a consensus rating of "Hold" and a consensus target price of $20.15.

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Plains All American Pipeline Stock Up 1.1 %

The business has a fifty day simple moving average of $19.38 and a two-hundred day simple moving average of $18.44. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 22.99 and a beta of 1.17.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.06%. Plains All American Pipeline's payout ratio is 208.22%.

Institutional Trading of Plains All American Pipeline

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Plains All American Pipeline by 4.6% in the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock valued at $475,301,000 after purchasing an additional 1,224,381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock valued at $261,283,000 after purchasing an additional 1,211,286 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Plains All American Pipeline by 0.6% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock valued at $227,539,000 after buying an additional 75,509 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company's stock valued at $134,107,000 after buying an additional 630,141 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Plains All American Pipeline by 30.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock worth $92,470,000 after buying an additional 1,162,933 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

About Plains All American Pipeline

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.