Traders Buy High Volume of Call Options on Plains All American Pipeline (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) saw unusually large options trading on Monday. Investors purchased 49,600 call options on the company. This is an increase of 751% compared to the average daily volume of 5,831 call options.

Institutional Trading of Plains All American Pipeline

A number of large investors have recently made changes to their positions in PAA. Capital Advisors Inc. OK acquired a new position in Plains All American Pipeline in the 4th quarter valued at $4,234,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company's stock worth $195,561,000 after buying an additional 1,135,737 shares during the period. ING Groep NV lifted its position in Plains All American Pipeline by 12.2% during the third quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company's stock worth $46,628,000 after buying an additional 332,000 shares during the period. DAVENPORT & Co LLC acquired a new stake in Plains All American Pipeline in the 4th quarter worth about $182,000. Finally, Envestnet Asset Management Inc. grew its holdings in Plains All American Pipeline by 374.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company's stock valued at $3,522,000 after buying an additional 181,484 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

Analyst Ratings Changes

PAA has been the topic of a number of recent analyst reports. Scotiabank started coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They issued a "sector outperform" rating and a $23.00 target price on the stock. The Goldman Sachs Group lifted their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a "sell" rating in a research report on Friday, April 12th. UBS Group upped their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, April 12th. Citigroup lifted their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Finally, Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.96.

Plains All American Pipeline Price Performance

Shares of PAA stock traded up $0.16 during midday trading on Monday, reaching $18.03. 2,912,034 shares of the company traded hands, compared to its average volume of 3,426,614. The firm's 50 day simple moving average is $17.27 and its two-hundred day simple moving average is $16.08. The firm has a market cap of $12.64 billion, a PE ratio of 12.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $14.30 billion. During the same quarter last year, the business posted $0.33 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Plains All American Pipeline will post 1.34 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.04%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline's payout ratio is 91.37%.

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.

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