Tortoise Capital Advisors L.L.C. Grows Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Tortoise Capital Advisors L.L.C. boosted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,321,966 shares of the pipeline company's stock after purchasing an additional 75,509 shares during the period. Plains All American Pipeline comprises 2.9% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 14th largest holding. Tortoise Capital Advisors L.L.C. owned about 1.89% of Plains All American Pipeline worth $227,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc lifted its holdings in shares of Plains All American Pipeline by 12.7% during the 3rd quarter. Morse Asset Management Inc now owns 45,350 shares of the pipeline company's stock valued at $788,000 after buying an additional 5,100 shares during the period. Barclays PLC increased its position in Plains All American Pipeline by 1.6% during the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company's stock valued at $34,885,000 after acquiring an additional 32,061 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Plains All American Pipeline by 0.3% in the third quarter. Geode Capital Management LLC now owns 595,776 shares of the pipeline company's stock valued at $10,349,000 after acquiring an additional 1,989 shares during the period. Sanctuary Advisors LLC boosted its position in Plains All American Pipeline by 15.1% in the third quarter. Sanctuary Advisors LLC now owns 55,494 shares of the pipeline company's stock worth $996,000 after purchasing an additional 7,265 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at about $27,000. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

NYSE PAA traded up $0.54 during trading on Thursday, hitting $18.20. 3,020,730 shares of the stock traded hands, compared to its average volume of 3,054,224. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12-month low of $15.58 and a 12-month high of $21.00. The firm has a 50-day simple moving average of $19.03 and a 200-day simple moving average of $18.44. The company has a market capitalization of $12.81 billion, a P/E ratio of 24.93 and a beta of 1.17.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.35%. The ex-dividend date is Thursday, May 1st. Plains All American Pipeline's dividend payout ratio is presently 208.22%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PAA. Morgan Stanley raised their price objective on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Barclays decreased their price objective on Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Scotiabank reduced their target price on shares of Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Wolfe Research upgraded 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 research note on Friday, January 10th. Finally, Raymond James upped their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $20.36.

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.