Dividend Assets Capital LLC Grows Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Dividend Assets Capital LLC grew its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,566 shares of the pipeline company's stock after purchasing an additional 14,104 shares during the period. Dividend Assets Capital LLC's holdings in Plains All American Pipeline were worth $2,333,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Capital Advisory Group Advisory Services LLC bought a new stake in Plains All American Pipeline during the 4th quarter valued at $474,000. ING Groep NV raised its stake in shares of 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 valued at $66,486,000 after purchasing an additional 2,570,700 shares during the period. Hardy Reed LLC lifted its holdings in Plains All American Pipeline by 11.7% during the 4th quarter. Hardy Reed LLC now owns 41,850 shares of the pipeline company's stock worth $715,000 after purchasing an additional 4,400 shares in the last quarter. Corps Capital Advisors LLC bought a new position in Plains All American Pipeline in the 4th quarter worth about $836,000. Finally, Ieq Capital LLC purchased a new position in Plains All American Pipeline during the 4th quarter valued at about $221,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Shares of PAA stock remained flat at $20.11 during trading hours on Wednesday. 2,942,362 shares of the company's stock traded hands, compared to its average volume of 4,387,570. The stock has a market capitalization of $14.15 billion, a P/E ratio of 27.55 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 52-week low of $16.21 and a 52-week high of $21.00. The stock has a 50-day simple moving average of $19.10 and a 200 day simple moving average of $18.08.

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Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.56%. This is a positive change 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 (DPR) is presently 208.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank reissued a "sector outperform" rating and issued a $23.00 price target on shares of Plains All American Pipeline 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 research note on Tuesday, January 28th. Wells Fargo & Company lowered 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Wolfe Research raised 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 research note on Friday, January 10th. Two research 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 stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and an average price target of $20.21.

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.