Lindbrook Capital LLC Sells 25,107 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Lindbrook Capital LLC cut its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,281 shares of the pipeline company's stock after selling 25,107 shares during the period. Lindbrook Capital LLC's holdings in Plains All American Pipeline were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in Plains All American Pipeline during the fourth quarter worth $27,000. Jones Financial Companies Lllp boosted its position in shares of Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after buying an additional 3,368 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company's stock valued at $139,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Rothschild Investment LLC grew its holdings in Plains All American Pipeline by 66.7% during the 4th quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company's stock valued at $162,000 after buying an additional 3,800 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Plains All American Pipeline Stock Up 0.4 %

PAA traded up $0.08 during trading on Monday, hitting $19.43. 3,360,038 shares of the company's stock were exchanged, compared to its average volume of 2,950,558. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $19.53 and its two-hundred day moving average is $18.21. The stock has a market cap of $13.67 billion, a P/E ratio of 26.62 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.38 dividend. This is an increase from Plains All American Pipeline's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.82%. Plains All American Pipeline's dividend payout ratio is presently 208.22%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Raymond James raised their price target on 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. Royal Bank of Canada reiterated a "sector perform" rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Barclays upped their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, January 16th. Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Scotiabank reduced 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 report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.14.

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.