Plains All American Pipeline, L.P. (NYSE:PAA) Stake Boosted by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 43.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 217,743 shares of the pipeline company's stock after acquiring an additional 65,887 shares during the period. Advisors Asset Management Inc.'s holdings in Plains All American Pipeline were worth $3,719,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in shares of Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company's stock valued at $315,000 after acquiring an additional 887 shares during the last quarter. Avior Wealth Management LLC raised its stake in 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 period. Citizens Financial Group Inc. RI acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $186,000. Citigroup Inc. grew its stake in shares of Plains All American Pipeline by 48.9% during the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company's stock valued at $59,560,000 after buying an additional 1,125,386 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Plains All American Pipeline by 970.6% during the 3rd quarter. Cerity Partners LLC now owns 179,847 shares of the pipeline company's stock worth $3,124,000 after buying an additional 163,049 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.

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Wall Street Analysts Forecast Growth

PAA has been the subject of a number of research reports. Morgan Stanley boosted their price target on Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday. Scotiabank dropped their target price on shares of Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James boosted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Barclays raised their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.23.

Plains All American Pipeline Stock Up 0.0 %

Shares of PAA stock traded up $0.01 during mid-day trading on Tuesday, reaching $20.18. 1,519,995 shares of the company were exchanged, compared to its average volume of 2,997,413. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business's 50 day simple moving average is $19.96 and its 200 day simple moving average is $18.37. The company has a market capitalization of $14.20 billion, a P/E ratio of 27.64 and a beta of 1.62. Plains All American Pipeline, L.P. has a fifty-two week low of $16.21 and a fifty-two week high of $21.00.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.38 per share. 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 7.53%. The ex-dividend date of this dividend was Friday, January 31st. 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.