Plains All American Pipeline Sees Unusually Large Options Volume (NASDAQ:PAA)

Plains All American Pipeline Lp (NASDAQ:PAA) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 20,343 call options on the stock. This represents an increase of approximately 110% compared to the typical volume of 9,704 call options.

Plains All American Pipeline Price Performance

PAA traded up $0.51 during trading on Tuesday, reaching $22.29. The company had a trading volume of 1,509,582 shares, compared to its average volume of 3,830,447. The stock has a market capitalization of $15.72 billion, a P/E ratio of 13.41, a P/E/G ratio of 3.39 and a beta of 0.58. Plains All American Pipeline has a 12 month low of $15.57 and a 12 month high of $22.42. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.92 and a current ratio of 0.96. The company’s fifty day moving average price is $20.35.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.4175 per share. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Friday, January 30th. Plains All American Pipeline’s payout ratio is currently 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. bought a new stake in Plains All American Pipeline in the 3rd quarter valued at approximately $33,000. Caldwell Trust Co bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $38,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC lifted its position in shares of Plains All American Pipeline by 468.7% in the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock worth $44,000 after purchasing an additional 2,128 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAA. Zacks Research cut shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Bank of America lowered shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Wednesday, January 28th. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 23rd. Truist Financial assumed coverage on shares of Plains All American Pipeline in a report on Tuesday. They issued a “buy” rating and a $23.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.85.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.