Private Advisor Group LLC Sells 768 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Private Advisor Group LLC lessened its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 0.5% in the fourth quarter, HoldingsChannel reports. The fund owned 167,935 shares of the pipeline company’s stock after selling 768 shares during the quarter. Private Advisor Group LLC’s holdings in Plains All American Pipeline were worth $2,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Plains All American Pipeline by 1,006.4% in the 3rd quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock valued at $1,164,000 after purchasing an additional 60,979 shares during the period. US Bancorp DE grew its holdings in shares of Plains All American Pipeline by 2.2% during the third quarter. US Bancorp DE now owns 125,389 shares of the pipeline company’s stock valued at $2,178,000 after buying an additional 2,658 shares during the last quarter. Americana Partners LLC grew its holdings in shares of Plains All American Pipeline by 17.5% during the third quarter. Americana Partners LLC now owns 264,586 shares of the pipeline company’s stock valued at $4,596,000 after buying an additional 39,333 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Plains All American Pipeline by 2.8% during the third quarter. Chicago Partners Investment Group LLC now owns 213,386 shares of the pipeline company’s stock worth $3,640,000 after acquiring an additional 5,828 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Plains All American Pipeline by 8.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 90,900 shares of the pipeline company’s stock worth $1,579,000 after acquiring an additional 6,921 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays boosted their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Raymond James upped their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Wolfe Research upgraded 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 note on Friday, January 10th. Scotiabank reaffirmed a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, January 10th. Finally, Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two 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 data from MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline Trading Down 0.9 %

NYSE:PAA opened at $20.29 on Tuesday. Plains All American Pipeline, L.P. has a 12 month low of $16.18 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. The firm’s 50 day moving average is $19.05 and its 200 day moving average is $18.06. The stock has a market capitalization of $14.28 billion, a PE ratio of 27.79 and a beta of 1.65.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.49%. 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 dividend payout ratio is currently 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.