CIBC Private Wealth Group LLC Increases Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

CIBC Private Wealth Group LLC increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 30.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,936,982 shares of the pipeline company’s stock after acquiring an additional 1,162,933 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.70% of Plains All American Pipeline worth $92,470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Plains All American Pipeline by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock worth $134,107,000 after purchasing an additional 630,141 shares in the last quarter. ING Groep NV increased its stake in Plains All American Pipeline by 194.5% during the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after buying an additional 2,570,700 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Plains All American Pipeline by 1.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after buying an additional 38,062 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in Plains All American Pipeline by 14.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 2,436,900 shares of the pipeline company’s stock valued at $41,622,000 after buying an additional 300,000 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Plains All American Pipeline by 1.6% during the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after acquiring an additional 32,061 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

PAA has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, March 25th. Wolfe Research upgraded 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 note on Friday, January 10th. Barclays lifted their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Scotiabank reduced their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and a consensus target price of $20.23.

Plains All American Pipeline Stock Up 0.6 %

Shares of Plains All American Pipeline stock opened at $20.21 on Monday. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 27.68 and a beta of 1.62. Plains All American Pipeline, L.P. has a twelve month low of $16.21 and a twelve 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. The business’s 50 day simple moving average is $20.00 and its 200-day simple moving average is $18.45.

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 $0.38 dividend. The ex-dividend date was Friday, January 31st. 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 7.52%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 208.22%.

About Plains All American Pipeline

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.