Summit Financial LLC bought a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,229 shares of the pipeline company's stock, valued at approximately $977,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Plains All American Pipeline during the third quarter valued at $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp grew its stake 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 during the last quarter. CoreFirst Bank & Trust bought a new position in Plains All American Pipeline during the 4th quarter valued at approximately $97,000. Finally, Rothschild Investment LLC raised its stake in Plains All American Pipeline by 66.7% during the fourth 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 currently owned by institutional investors.
Plains All American Pipeline Trading Down 6.2 %
PAA stock traded down $1.07 during midday trading on Monday, reaching $16.27. 3,029,721 shares of the company traded hands, compared to its average volume of 3,086,487. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 22.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business has a 50 day moving average of $19.89 and a 200-day moving average of $18.51. Plains All American Pipeline, L.P. has a 52-week low of $15.95 and a 52-week high of $21.00.
Plains All American Pipeline Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.34%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline's payout ratio is currently 208.22%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Raymond James lifted their price objective on 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. Wolfe Research raised shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Scotiabank lowered 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 report on Thursday, March 6th. Finally, Morgan Stanley upped their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $20.23.
View Our Latest Research Report on Plains All American Pipeline
Plains All American Pipeline Profile
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Free Report)
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.
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