Newbridge Financial Services Group Inc. Makes New Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Newbridge Financial Services Group Inc. acquired a new position in Plains All American Pipeline, L.P. (NYSE:PAA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,608 shares of the pipeline company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $1,708,000. Stifel Financial Corp raised its position in shares of Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after purchasing an additional 54,111 shares during the period. FMR LLC raised its position 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. PFG Investments LLC raised its position in shares of Plains All American Pipeline by 47.0% in the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after purchasing an additional 14,432 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $591,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA stock opened at $19.72 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a one year low of $15.45 and a one year high of $21.00. The stock has a market cap of $13.88 billion, a PE ratio of 17.61 and a beta of 1.65. The firm has a 50 day simple moving average of $18.65 and a two-hundred day simple moving average of $17.91.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.71%. The ex-dividend date is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is currently 135.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James boosted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. 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 note on Thursday, January 16th. Finally, Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.21.

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.