Plains All American Pipeline, L.P. (NYSE:PAA) was the target of unusually large options trading on Friday. Stock investors purchased 8,133 call options on the stock. This is an increase of 155% compared to the typical daily volume of 3,191 call options.
PAA has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Plains All American Pipeline from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, December 16th. Seaport Research Partners lowered Plains All American Pipeline from a "buy" rating to a "neutral" rating in a report on Friday, October 29th. Seaport Global Securities lowered Plains All American Pipeline from a "buy" rating to a "neutral" rating in a report on Friday, October 29th. Evercore ISI upgraded Plains All American Pipeline from an "in-line" rating to an "outperform" rating and set a $14.00 price target on the stock in a report on Monday, November 15th. Finally, Seaport Res Ptn lowered Plains All American Pipeline from a "buy" rating to a "neutral" rating in a report on Thursday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $12.50.
Plains All American Pipeline stock traded up $0.27 during mid-day trading on Friday, hitting $10.97. The company's stock had a trading volume of 278,818 shares, compared to its average volume of 3,340,452. The company has a 50 day moving average of $9.77 and a 200-day moving average of $10.02. The stock has a market cap of $7.80 billion, a PE ratio of -90.17 and a beta of 2.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.78 and a current ratio of 0.90. Plains All American Pipeline has a one year low of $8.07 and a one year high of $12.38.
Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Monday, November 1st. The pipeline company reported $0.22 EPS for the quarter, meeting the Thomson Reuters' consensus estimate of $0.22. The company had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $9.28 billion. Plains All American Pipeline had a return on equity of 11.68% and a net margin of 0.19%. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities research analysts forecast that Plains All American Pipeline will post 1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 14th. Shareholders of record on Monday, January 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 6.56%. The ex-dividend date is Friday, January 28th. Plains All American Pipeline's dividend payout ratio (DPR) is presently -600.00%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Plains All American Pipeline by 2.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 219,698 shares of the pipeline company's stock worth $2,496,000 after buying an additional 4,908 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Plains All American Pipeline by 12.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 16,938 shares of the pipeline company's stock worth $192,000 after buying an additional 1,889 shares in the last quarter. Morningstar Investment Management LLC bought a new position in shares of Plains All American Pipeline during the 2nd quarter worth $6,096,000. MML Investors Services LLC grew its position in shares of Plains All American Pipeline by 49.5% during the 2nd quarter. MML Investors Services LLC now owns 19,713 shares of the pipeline company's stock worth $224,000 after buying an additional 6,527 shares in the last quarter. Finally, UMB Bank N A MO grew its position in shares of Plains All American Pipeline by 7.1% during the 3rd quarter. UMB Bank N A MO now owns 59,462 shares of the pipeline company's stock worth $605,000 after buying an additional 3,958 shares in the last quarter. 44.59% of the stock is currently owned by institutional investors and hedge funds.
About Plains All American Pipeline
Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment includes transporting crude oil and refined products on pipelines, gathering systems, trucks, and barges.
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