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

ING Groep NV increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 194.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,892,637 shares of the pipeline company’s stock after buying an additional 2,570,700 shares during the period. ING Groep NV owned about 0.55% of Plains All American Pipeline worth $66,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Plains All American Pipeline during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in Plains All American Pipeline during the fourth quarter worth about $27,000. Avior Wealth Management LLC raised its position in Plains All American Pipeline by 100.0% during the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 4,000 shares during the last quarter. Westmount Partners LLC acquired a new position in Plains All American Pipeline during the fourth quarter worth about $177,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Plains All American Pipeline during the third quarter worth about $186,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Barclays boosted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $20.47 on Thursday. Plains All American Pipeline, L.P. has a 1 year low of $16.04 and a 1 year high of $21.00. The firm has a 50 day moving average price of $18.84 and a 200 day moving average price of $17.97. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 13.48 and a beta of 1.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.43%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 208.22%.

Plains All American Pipeline 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.