Plains All American Pipeline, L.P. (PAA) Declares $0.55 Quarterly Dividend

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Tuesday, January 10th. Shareholders of record on Tuesday, January 31st will be paid a dividend of 0.55 per share on Tuesday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date is Friday, January 27th.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) traded down 1.48% during midday trading on Tuesday, reaching $31.92. 1,293,608 shares of the company’s stock were exchanged. The stock has a market cap of $13.18 billion, a P/E ratio of 62.71 and a beta of 0.90. The company’s 50-day moving average is $32.18 and its 200-day moving average is $30.05. Plains All American Pipeline, L.P. has a one year low of $14.82 and a one year high of $33.95.

Dividend History for Plains All American Pipeline, L.P. (NYSE:PAA)

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, October 26th. Piper Jaffray Companies raised Plains All American Pipeline, L.P. from a “neutral” rating to an “overweight” rating and set a $36.00 target price for the company in a report on Thursday, October 13th. FBR & Co reaffirmed a “hold” rating on shares of Plains All American Pipeline, L.P. in a report on Thursday, November 3rd. RBC Capital Markets reaffirmed a “hold” rating and set a $29.00 target price on shares of Plains All American Pipeline, L.P. in a report on Friday. Finally, Deutsche Bank AG raised Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $31.00 to $37.00 in a report on Monday, October 10th. Sixteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.55.

In other news, EVP John Vonberg sold 6,675 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $32.56, for a total value of $217,338.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates boosted its stake in Plains All American Pipeline, L.P. by 8.4% in the second quarter. Raymond James & Associates now owns 353,706 shares of the company’s stock worth $9,723,000 after buying an additional 27,373 shares during the period. Teachers Advisors Inc. acquired a new stake in Plains All American Pipeline, L.P. during the second quarter worth approximately $31,203,000. TIAA CREF Investment Management LLC acquired a new stake in Plains All American Pipeline, L.P. during the second quarter worth approximately $20,095,000. Sunbelt Securities Inc. boosted its stake in Plains All American Pipeline, L.P. by 115.9% in the second quarter. Sunbelt Securities Inc. now owns 4,831 shares of the company’s stock worth $133,000 after buying an additional 2,593 shares during the period. Finally, Credit Suisse AG boosted its stake in Plains All American Pipeline, L.P. by 15.9% in the second quarter. Credit Suisse AG now owns 845,160 shares of the company’s stock worth $23,233,000 after buying an additional 116,259 shares during the period. Institutional investors and hedge funds own 67.92% of the company’s stock.

Plains All American Pipeline, L.P. Company Profile

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. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

5 Day Chart for NYSE:PAA

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