Morningstar Investment Management LLC Sells 42,670 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Morningstar Investment Management LLC reduced its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,864 shares of the pipeline company's stock after selling 42,670 shares during the quarter. Morningstar Investment Management LLC's holdings in Plains All American Pipeline were worth $1,603,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PAA. Hardy Reed LLC boosted its position in shares of 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 fourth quarter worth approximately $836,000. Ieq Capital LLC bought a new position in Plains All American Pipeline in the fourth quarter worth approximately $221,000. Financial Sense Advisors Inc. grew its stake in Plains All American Pipeline by 5.4% in the fourth quarter. Financial Sense Advisors Inc. now owns 16,027 shares of the pipeline company's stock valued at $274,000 after acquiring an additional 823 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of Plains All American Pipeline by 30.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 93,562 shares of the pipeline company's stock worth $1,598,000 after purchasing an additional 21,969 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

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Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock traded down $0.16 during trading hours on Monday, hitting $20.33. 2,645,055 shares of the company's stock traded hands, compared to its average volume of 4,433,713. The company has a fifty day simple moving average of $19.00 and a 200-day simple moving average of $18.04. 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 capitalization of $14.30 billion, a price-to-earnings ratio of 27.90 and a beta of 1.65. Plains All American Pipeline, L.P. has a 12-month low of $16.18 and a 12-month 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. Shareholders of record on Friday, January 31st were given a $0.38 dividend. 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. This represents a $1.52 annualized dividend and a yield of 7.48%. Plains All American Pipeline's payout ratio is currently 208.22%.

Analysts Set New Price Targets

Several analysts recently issued reports on PAA shares. Scotiabank reissued a "sector outperform" rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. 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 for the company in a report on Friday, January 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Barclays lifted their price target on 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. Finally, Raymond James increased their price objective 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. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.