Counterpoint Mutual Funds LLC Grows Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Counterpoint Mutual Funds LLC raised its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 51.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 109,540 shares of the pipeline company’s stock after purchasing an additional 37,019 shares during the period. Plains All American Pipeline makes up approximately 0.2% of Counterpoint Mutual Funds LLC’s investment portfolio, making the stock its 13th biggest position. Counterpoint Mutual Funds LLC’s holdings in Plains All American Pipeline were worth $1,871,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Plains All American Pipeline in the third quarter valued at $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth about $27,000. Jones Financial Companies Lllp raised its stake in shares of Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 3,368 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Plains All American Pipeline by 100.0% during the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Plains All American Pipeline by 66.7% during the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 3,800 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PAA. Barclays upped their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, January 10th. Raymond James increased their target price on shares of 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. Scotiabank decreased their price target on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a report 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 dropped their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.14.

Plains All American Pipeline Stock Up 2.3 %

Shares of Plains All American Pipeline stock opened at $19.71 on Monday. Plains All American Pipeline, L.P. has a 1-year low of $16.21 and a 1-year high of $21.00. The company has a market capitalization of $13.87 billion, a P/E ratio of 27.00 and a beta of 1.62. The business’s fifty day moving average price is $19.76 and its two-hundred day moving average price is $18.27. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.71%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is presently 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.