Counterpoint Mutual Funds LLC Acquires 37,019 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Counterpoint Mutual Funds LLC raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 51.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,540 shares of the pipeline company's stock after buying an additional 37,019 shares during the period. Plains All American Pipeline comprises approximately 0.2% of Counterpoint Mutual Funds LLC's investment portfolio, making the stock its 13th biggest holding. Counterpoint Mutual Funds LLC's holdings in Plains All American Pipeline were worth $1,871,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new stake in Plains All American Pipeline in the 4th quarter valued at $1,708,000. Stifel Financial Corp raised its holdings in Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company's stock valued at $4,008,000 after acquiring an additional 54,111 shares during the period. FMR LLC lifted its position in Plains All American Pipeline by 91.1% during the third quarter. FMR LLC now owns 600,282 shares of the pipeline company's stock worth $10,427,000 after acquiring an additional 286,222 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of Plains All American Pipeline by 47.0% during the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company's stock worth $771,000 after acquiring an additional 14,432 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $591,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock traded down $0.27 during midday trading on Friday, hitting $19.97. 10,275,778 shares of the company traded hands, compared to its average volume of 3,003,304. The firm's fifty day moving average price is $19.91 and its 200-day moving average price is $18.33. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 27.36 and a beta of 1.62. Plains All American Pipeline, L.P. has a 12 month low of $16.21 and a 12 month high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

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 given a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.61%. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32. Plains All American Pipeline's payout ratio is currently 208.22%.

Analyst Ratings Changes

Several research firms recently weighed in on PAA. Barclays lifted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an "underweight" rating in a 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 reduced their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Scotiabank lowered their price target 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. Raymond James boosted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Wolfe Research raised shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.92.

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.