Plains All American Pipeline (NYSE:PAA) Trading Up 4.7% Following Dividend Announcement

Plains All American Pipeline, L.P. (NYSE:PAA)’s share price was up 4.7% on Wednesday after the company announced a dividend. The stock traded as high as $18.55 and last traded at $18.46. Approximately 970,842 shares changed hands during trading, a decline of 72% from the average daily volume of 3,452,345 shares. The stock had previously closed at $17.63.

The newly announced dividend which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.38 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 8.05%. Plains All American Pipeline’s payout ratio is currently 113.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PAA shares. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Bank of America began coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. Scotiabank reaffirmed a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, 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 report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Plains All American Pipeline Stock Up 0.8 %

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 cap of $13.29 billion, a price-to-earnings ratio of 16.86 and a beta of 1.64. The firm’s 50 day simple moving average is $17.53 and its 200 day simple moving average is $17.67.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAA. Axiom Advisory LLC boosted its stake in shares of Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after buying an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 856 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after purchasing an additional 887 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Plains All American Pipeline by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after purchasing an additional 927 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in shares of Plains All American Pipeline by 0.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after purchasing an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.