Plains All American Pipeline, L.P. (NYSE:PAA) Stock Position Lowered by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,799,827 shares of the pipeline company's stock after selling 120,245 shares during the period. Wells Fargo & Company MN owned approximately 0.26% of Plains All American Pipeline worth $30,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Plains All American Pipeline in the third quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. acquired a new stake in Plains All American Pipeline in the 4th quarter valued at $27,000. National Bank of Canada FI purchased a new stake in Plains All American Pipeline in the 4th quarter worth $27,000. Jones Financial Companies Lllp raised its position in Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after acquiring an additional 3,368 shares during the period. Finally, CoreFirst Bank & Trust acquired a new position in Plains All American Pipeline during the fourth quarter worth $97,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAA has been the subject of several research analyst reports. Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Friday, January 10th. 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 note on Wednesday, December 18th. Morgan Stanley raised their price objective on 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. Barclays reduced 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 report on Thursday, April 10th. Finally, Scotiabank lowered their target price 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. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline currently has an average rating of "Hold" and an average price target of $20.50.

Remove Ads

Plains All American Pipeline Stock Up 1.7 %

Shares of PAA traded up $0.29 during mid-day trading on Tuesday, reaching $17.46. 1,742,169 shares of the stock traded hands, compared to its average volume of 3,108,509. The stock has a fifty day simple moving average of $19.31 and a 200 day simple moving average of $18.45. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 23.92 and a beta of 1.17. Plains All American Pipeline, L.P. has a 12-month low of $15.58 and a 12-month high of $21.00. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued 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 8.71%. Plains All American Pipeline's dividend payout ratio (DPR) is 208.22%.

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.