Plains All American Pipeline (NYSE:PAA – Free Report) had its target price boosted by Royal Bank of Canada from $15.00 to $17.00 in a research note issued to investors on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the pipeline company’s stock.
A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company an overweight rating in a research report on Thursday, July 20th. The Goldman Sachs Group began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 5th. They issued a sell rating and a $13.50 price target for the company. Raymond James lifted their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a strong-buy rating in a research note on Friday, July 21st. Citigroup lowered shares of Plains All American Pipeline from a buy rating to a neutral rating and lifted their price objective for the company from $14.00 to $15.50 in a research note on Wednesday, September 6th. Finally, TD Securities lifted their price objective on shares of Plains All American Pipeline from $16.00 to $17.00 and gave the company a buy rating in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $17.04.
Plains All American Pipeline Price Performance
Plains All American Pipeline Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a dividend of $0.2675 per share. The ex-dividend date was Monday, October 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 7.00%. Plains All American Pipeline’s dividend payout ratio (DPR) is 79.85%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in Plains All American Pipeline during the first quarter worth about $28,000. Gradient Investments LLC acquired a new position in Plains All American Pipeline during the second quarter worth about $33,000. Fifth Third Bancorp grew its position in Plains All American Pipeline by 49.9% during the second quarter. Fifth Third Bancorp now owns 2,376 shares of the pipeline company’s stock worth $34,000 after buying an additional 791 shares during the period. CENTRAL TRUST Co grew its position in Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in Plains All American Pipeline during the first quarter worth about $44,000. 41.13% of the stock is currently owned by institutional investors and hedge funds.
About Plains All American Pipeline
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.
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