Clearbridge Investments LLC Cuts Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Clearbridge Investments LLC reduced its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 11.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,138,271 shares of the pipeline company's stock after selling 398,337 shares during the period. Clearbridge Investments LLC owned approximately 0.45% of Plains All American Pipeline worth $53,602,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Plains All American Pipeline by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company's stock worth $125,439,000 after buying an additional 2,677,951 shares during the last quarter. ING Groep NV lifted its position in Plains All American Pipeline by 194.5% during the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company's stock worth $66,486,000 after acquiring an additional 2,570,700 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Plains All American Pipeline by 30.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock valued at $92,470,000 after purchasing an additional 1,162,933 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $11,634,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth approximately $11,247,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Plains All American Pipeline Trading Up 0.7 %

PAA traded up $0.15 during trading on Wednesday, hitting $20.28. The company's stock had a trading volume of 2,025,401 shares, compared to its average volume of 3,057,066. Plains All American Pipeline, L.P. has a twelve month low of $16.21 and a twelve month high of $21.00. The firm's 50 day moving average price is $19.98 and its 200-day moving average price is $18.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market cap of $14.27 billion, a PE ratio of 27.78 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.38 dividend. 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. This represents a $1.52 annualized dividend and a dividend yield of 7.50%. Plains All American Pipeline's dividend payout ratio (DPR) is currently 208.22%.

Analyst Upgrades and Downgrades

PAA has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Wolfe Research raised Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Friday, January 10th. Raymond James upped their price objective 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. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Scotiabank decreased their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.23.

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.