Plains All American Pipeline, L.P. (NYSE:PAA) saw unusually large options trading activity on Tuesday. Investors bought 10,877 call options on the company. This represents an increase of approximately 941% compared to the average daily volume of 1,045 call options.
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Plains All American Pipeline from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday. Stifel Nicolaus upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, March 6th. UBS Group restated a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of Plains All American Pipeline in a research report on Friday, March 2nd. Morgan Stanley upgraded shares of Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Tuesday, February 13th. Finally, Bank of America cut their price objective on shares of Plains All American Pipeline from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.37.
Hedge funds and other institutional investors have recently modified their holdings of the stock. American Assets Investment Management LLC acquired a new stake in Plains All American Pipeline in the 4th quarter valued at about $103,000. Welch Group LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth about $134,000. Spectrum Management Group Inc. acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $142,000. Captrust Financial Advisors acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth about $158,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth about $166,000. 43.86% of the stock is currently owned by hedge funds and other institutional investors.
Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.16). The business had revenue of $7.61 billion during the quarter, compared to analyst estimates of $6.37 billion. Plains All American Pipeline had a net margin of 3.26% and a return on equity of 10.01%. Plains All American Pipeline’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. equities analysts anticipate that Plains All American Pipeline will post 1.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.30 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.17%. Plains All American Pipeline’s payout ratio is 123.71%.
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About Plains All American Pipeline
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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