Chung Wu Investment Group LLC Purchases New Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Chung Wu Investment Group LLC bought a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,389 shares of the pipeline company's stock, valued at approximately $809,000. Plains All American Pipeline makes up approximately 0.8% of Chung Wu Investment Group LLC's investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter valued at about $1,708,000. Stifel Financial Corp raised its position in Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company's stock valued at $4,008,000 after acquiring an additional 54,111 shares in the last quarter. FMR LLC lifted its stake in Plains All American Pipeline by 91.1% in the third quarter. FMR LLC now owns 600,282 shares of the pipeline company's stock valued at $10,427,000 after acquiring an additional 286,222 shares during the last quarter. PFG Investments LLC grew its position in Plains All American Pipeline by 47.0% in the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company's stock worth $771,000 after acquiring an additional 14,432 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in Plains All American Pipeline in the fourth quarter worth approximately $591,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 0.4 %

PAA traded up $0.08 during trading on Monday, reaching $19.43. 3,360,038 shares of the company's stock were exchanged, compared to its average volume of 2,950,558. Plains All American Pipeline, L.P. has a fifty-two week low of $16.21 and a fifty-two week high of $21.00. 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 firm has a market capitalization of $13.67 billion, a PE ratio of 26.62 and a beta of 1.62. The company's fifty day moving average price is $19.53 and its 200-day moving average price is $18.21.

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Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.82%. This is a boost from Plains All American Pipeline's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline's dividend payout ratio is presently 208.22%.

Analyst Ratings Changes

PAA has been the topic of a number of recent research reports. Barclays raised their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a report 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. Wells Fargo & Company downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research raised 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. Finally, Raymond James boosted their target price 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and an average target price of $20.14.

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.