Raymond James Financial Inc. acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 658,475 shares of the pipeline company's stock, valued at approximately $11,247,000. Raymond James Financial Inc. owned 0.09% of Plains All American Pipeline at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $125,439,000 after purchasing an additional 2,677,951 shares during the period. ING Groep NV lifted its position in Plains All American Pipeline by 194.5% in the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company's stock worth $66,486,000 after buying an additional 2,570,700 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Plains All American Pipeline by 48.9% during the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company's stock valued at $59,560,000 after buying an additional 1,125,386 shares during the period. Miller Howard Investments Inc. NY grew its holdings in shares of Plains All American Pipeline by 1.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company's stock valued at $44,594,000 after acquiring an additional 38,062 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of 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 acquiring an additional 32,061 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on PAA shares. Raymond James lifted their price objective 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. Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Friday, January 10th. Barclays boosted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Scotiabank cut their price objective 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 report on Thursday, March 6th. Finally, Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.92.
Get Our Latest Report on Plains All American Pipeline
Plains All American Pipeline Stock Performance
Plains All American Pipeline stock traded up $0.20 on Monday, reaching $20.17. 1,697,275 shares of the stock were exchanged, compared to its average volume of 2,997,615. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. 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 fifty day moving average price of $19.94 and a two-hundred day moving average price of $18.35. The stock has a market cap of $14.20 billion, a PE ratio of 27.63 and a beta of 1.62.
Plains All American Pipeline Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.54%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Plains All American Pipeline's previous quarterly dividend of $0.32. Plains All American Pipeline's payout ratio is currently 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
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
