Whittier Trust Co. of Nevada Inc. purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the pipeline company's stock, valued at approximately $341,000.
A number of other hedge funds also recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Plains All American Pipeline in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp grew its position in Plains All American Pipeline by 1,684.0% during the 4th 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 last quarter. Avior Wealth Management LLC increased its holdings in Plains All American Pipeline by 100.0% during the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company's stock valued at $139,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in Plains All American Pipeline by 66.7% during the 4th quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company's stock worth $162,000 after buying an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.
Analysts Set New Price Targets
PAA has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James upped their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Scotiabank lowered their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Barclays boosted their price objective 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. Finally, Morgan Stanley raised 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 research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of "Hold" and an average target price of $20.23.
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Plains All American Pipeline Stock Down 1.4 %
PAA traded down $0.29 during trading on Thursday, reaching $20.09. The company had a trading volume of 2,590,953 shares, compared to its average volume of 2,985,149. 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 current ratio of 1.01 and a quick ratio of 0.92. The business's fifty day moving average price is $20.00 and its 200 day moving average price is $18.40. The company has a market cap of $14.14 billion, a P/E ratio of 27.52 and a beta of 1.62.
Plains All American Pipeline Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.57%. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains All American Pipeline's payout ratio is 208.22%.
About Plains All American Pipeline
(
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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