Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 51.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,540 shares of the pipeline company’s stock after buying an additional 37,019 shares during the quarter. Plains All American Pipeline makes up about 0.2% of Counterpoint Mutual Funds LLC’s holdings, making the stock its 13th largest position. Counterpoint Mutual Funds LLC’s holdings in Plains All American Pipeline were worth $1,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new stake in Plains All American Pipeline during the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $27,000. Jones Financial Companies Lllp boosted its stake in shares of 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 valued at $61,000 after acquiring an additional 3,368 shares during the last quarter. Avior Wealth Management LLC increased its position 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 worth $139,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in Plains All American Pipeline by 66.7% in the 4th quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 3,800 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $19.71 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $13.87 billion, a PE ratio of 27.00 and a beta of 1.62. The company’s fifty day simple moving average is $19.76 and its 200-day simple moving average is $18.27. Plains All American Pipeline, L.P. has a 52 week low of $16.21 and a 52 week high of $21.00.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.71%. Plains All American Pipeline’s dividend payout ratio (DPR) is 208.22%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PAA shares. Barclays raised their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded 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 report on Friday, January 10th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James upped their target price 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. Finally, Scotiabank decreased 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average price target of $20.14.

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.