Pointe Capital Management LLC Sells 4,583 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Pointe Capital Management LLC reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,536 shares of the pipeline company’s stock after selling 4,583 shares during the quarter. Pointe Capital Management LLC’s holdings in Plains All American Pipeline were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Financial Sense Advisors Inc. increased its stake in Plains All American Pipeline by 5.4% in the fourth quarter. Financial Sense Advisors Inc. now owns 16,027 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 823 shares during the last quarter. Eclectic Associates Inc. ADV boosted its stake in Plains All American Pipeline by 7.6% in the fourth quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company’s stock worth $207,000 after buying an additional 854 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Plains All American Pipeline by 5.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 17,195 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 885 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 887 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its stake in shares of Plains All American Pipeline by 1.3% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 90,350 shares of the pipeline company’s stock valued at $1,543,000 after purchasing an additional 1,197 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PAA. Barclays boosted 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. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Scotiabank reaffirmed a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Raymond James boosted their price objective on 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. Finally, Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.21.

Plains All American Pipeline Stock Down 0.9 %

Shares of NYSE:PAA opened at $20.11 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a 52-week low of $16.18 and a 52-week high of $21.00. The firm has a market capitalization of $14.15 billion, a P/E ratio of 27.55 and a beta of 1.65. The stock has a 50 day moving average price of $19.10 and a 200-day moving average price of $18.08.

Plains All American Pipeline Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.56%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 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.