Dividend Assets Capital LLC Purchases 14,104 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Dividend Assets Capital LLC lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 11.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 136,566 shares of the pipeline company’s stock after purchasing an additional 14,104 shares during the period. Dividend Assets Capital LLC’s holdings in Plains All American Pipeline were worth $2,333,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at about $1,708,000. Stifel Financial Corp lifted its holdings in Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after purchasing an additional 54,111 shares in the last quarter. FMR LLC boosted its stake in Plains All American Pipeline by 91.1% in the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after purchasing an additional 286,222 shares during the period. PFG Investments LLC increased its holdings 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 worth $771,000 after purchasing an additional 14,432 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in Plains All American Pipeline in the 4th quarter worth approximately $591,000. Institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Scotiabank restated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Raymond James lifted 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Trading Down 0.7 %

NYSE:PAA opened at $20.48 on Friday. Plains All American Pipeline, L.P. has a 12-month low of $16.18 and a 12-month high of $21.00. The firm has a market cap of $14.41 billion, a P/E ratio of 13.66 and a beta of 1.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $18.94 and its 200-day simple moving average is $18.01.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.38 per share. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is presently 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.