Corient Private Wealth LLC Boosts Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Corient Private Wealth LLC increased its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 427,682 shares of the pipeline company's stock after acquiring an additional 25,263 shares during the quarter. Corient Private Wealth LLC owned about 0.06% of Plains All American Pipeline worth $7,305,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Atala Financial Inc bought a new position in Plains All American Pipeline in the fourth quarter valued at $365,000. Avantax Advisory Services Inc. grew its position in Plains All American Pipeline by 41.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 14,436 shares of the pipeline company's stock valued at $247,000 after acquiring an additional 4,241 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Plains All American Pipeline by 4.7% during the fourth quarter. Larson Financial Group LLC now owns 13,083 shares of the pipeline company's stock worth $223,000 after acquiring an additional 583 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Plains All American Pipeline by 1.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 197,143 shares of the pipeline company's stock worth $3,367,000 after acquiring an additional 2,757 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new position in shares of Plains All American Pipeline during the 4th quarter valued at $809,000. Hedge funds and other institutional investors own 41.78% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PAA shares. Scotiabank lowered their target price on Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research upgraded shares of 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 report on Friday, January 10th. Finally, Barclays raised their price objective 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 analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline has an average rating of "Hold" and an average target price of $20.23.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded up $0.01 during trading on Tuesday, reaching $20.18. The company had a trading volume of 1,519,995 shares, compared to its average volume of 2,997,413. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 27.64 and a beta of 1.62. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm's 50-day simple moving average is $19.96 and its 200 day simple moving average is $18.37. Plains All American Pipeline, L.P. has a 52 week low of $16.21 and a 52 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. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. This is a boost from Plains All American Pipeline's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline's payout ratio is presently 208.22%.

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.