ING Groep NV Grows Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

ING Groep NV grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 194.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,892,637 shares of the pipeline company’s stock after purchasing an additional 2,570,700 shares during the period. ING Groep NV’s holdings in Plains All American Pipeline were worth $66,486,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the period. Citigroup Inc. boosted its stake in shares of Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after purchasing an additional 1,125,386 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of Plains All American Pipeline in the third quarter valued at $11,634,000. FMR LLC boosted its stake in shares of Plains All American Pipeline by 91.1% in the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after purchasing an additional 286,222 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Plains All American Pipeline in the third quarter valued at $4,597,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PAA shares. Barclays upped their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Raymond James upped their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Scotiabank reissued a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, January 10th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $20.47 on Thursday. The firm has a 50-day moving average price of $18.84 and a 200 day moving average price of $17.97. The firm has a market capitalization of $14.40 billion, a PE ratio of 13.48 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 52-week low of $16.04 and a 52-week high of $21.00.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Plains All American Pipeline Company Profile

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.