Lindbrook Capital LLC Sells 25,107 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Lindbrook Capital LLC decreased its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 27.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,281 shares of the pipeline company’s stock after selling 25,107 shares during the period. Lindbrook Capital LLC’s holdings in Plains All American Pipeline were worth $1,115,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in Plains All American Pipeline in the third quarter worth about $27,000. Newbridge Financial Services Group Inc. bought a new stake in Plains All American Pipeline in the fourth quarter worth about $27,000. Jones Financial Companies Lllp raised its position in Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after acquiring an additional 3,368 shares during the period. Avior Wealth Management LLC raised its position in Plains All American Pipeline by 100.0% in 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 period. Finally, Rothschild Investment LLC raised its position in Plains All American Pipeline by 66.7% in the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock worth $162,000 after acquiring an additional 3,800 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $18.95 on Thursday. The company has a 50 day moving average of $19.43 and a 200 day moving average of $18.18. The stock has a market cap of $13.33 billion, a P/E ratio of 25.96 and a beta of 1.65. Plains All American Pipeline, L.P. has a 12 month low of $16.21 and a 12 month high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend was 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 208.22%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. 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. Scotiabank reissued a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Raymond James boosted 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 research report on Tuesday, January 28th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.