Private Advisor Group LLC Sells 768 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Private Advisor Group LLC lessened its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,935 shares of the pipeline company’s stock after selling 768 shares during the quarter. Private Advisor Group LLC’s holdings in Plains All American Pipeline were worth $2,868,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after acquiring an additional 2,677,951 shares in the last quarter. Citigroup Inc. raised its position in Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after purchasing an additional 1,125,386 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Plains All American Pipeline by 1.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock valued at $44,594,000 after purchasing an additional 38,062 shares in the last quarter. Barclays PLC grew its holdings in shares of 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 worth $34,885,000 after purchasing an additional 32,061 shares during the last quarter. Finally, ING Groep NV raised its holdings in Plains All American Pipeline by 29.1% in the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after buying an additional 297,937 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $20.29 on Tuesday. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 27.79 and a beta of 1.65. Plains All American Pipeline, L.P. has a 52-week low of $16.18 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock’s 50 day moving average price is $19.05 and its two-hundred day moving average price is $18.06.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend 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 7.49%. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Wall Street Analysts Forecast Growth

PAA has been the subject of several recent research 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. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Barclays lifted their target price 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. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Finally, Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.21.

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.