Duff & Phelps Investment Management Co. Acquires 300,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Duff & Phelps Investment Management Co. boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,436,900 shares of the pipeline company’s stock after purchasing an additional 300,000 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.35% of Plains All American Pipeline worth $41,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in Plains All American Pipeline during the 4th quarter valued at about $1,708,000. Stifel Financial Corp lifted its position in Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after purchasing an additional 54,111 shares during the period. FMR LLC grew its holdings in Plains All American Pipeline by 91.1% during the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after acquiring an additional 286,222 shares during the period. PFG Investments LLC lifted its stake in shares of Plains All American Pipeline by 47.0% in the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after purchasing an additional 14,432 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth approximately $591,000. Institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PAA shares. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Barclays increased their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. 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 research note on Thursday, March 6th. Finally, Raymond James boosted their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.23.

Plains All American Pipeline Stock Down 1.4 %

PAA opened at $20.09 on Friday. The company has a market cap of $14.14 billion, a PE ratio of 27.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a 1 year low of $16.21 and a 1 year high of $21.00. The firm has a 50 day moving average price of $19.99 and a 200 day moving average price of $18.42.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is 208.22%.

About Plains All American Pipeline

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.