Sei Investments Co. Sells 135,597 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Sei Investments Co. trimmed its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 72.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 50,638 shares of the pipeline company's stock after selling 135,597 shares during the quarter. Sei Investments Co.'s holdings in Plains All American Pipeline were worth $865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter valued at approximately $1,708,000. Stifel Financial Corp lifted its position 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 in the last quarter. FMR LLC boosted its stake in Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company's stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. PFG Investments LLC increased its holdings in shares of Plains All American Pipeline by 47.0% in the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company's stock worth $771,000 after purchasing an additional 14,432 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter worth $591,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Performance

Shares of PAA stock traded up $0.18 during trading hours on Friday, reaching $16.78. 3,856,792 shares of the company traded hands, compared to its average volume of 3,108,703. The firm has a 50-day moving average price of $19.38 and a 200 day moving average price of $18.45. The company has a market cap of $11.81 billion, a P/E ratio of 22.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a 12-month low of $15.58 and a 12-month high of $21.00.

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Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.06%. Plains All American Pipeline's payout ratio is currently 208.22%.

Analyst Ratings Changes

PAA has been the subject of several research analyst reports. Wolfe Research upgraded 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. Morgan Stanley boosted their price objective on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Raymond James raised 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 report on Tuesday, January 28th. Barclays decreased their target price on shares of Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday. Finally, Scotiabank dropped their price target on Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.50.

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.