Lee Financial Co Purchases 3,170 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Lee Financial Co raised its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,875 shares of the pipeline company’s stock after purchasing an additional 3,170 shares during the period. Lee Financial Co’s holdings in Plains All American Pipeline were worth $749,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Plains All American Pipeline during the third quarter valued at $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Plains All American Pipeline during the 4th quarter valued at about $27,000. Avior Wealth Management LLC grew its holdings in shares of Plains All American Pipeline by 100.0% during the third 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. Westmount Partners LLC purchased a new position in shares of Plains All American Pipeline during the fourth quarter worth about $177,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Plains All American Pipeline in the third quarter worth approximately $186,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $19.80 on Friday. The business’s 50 day moving average price is $18.75 and its 200-day moving average price is $17.95. The firm has a market cap of $13.93 billion, a P/E ratio of 13.25 and a beta of 1.65. 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 fifty-two week low of $15.64 and a fifty-two 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 issued 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 7.68%. Plains All American Pipeline’s dividend payout ratio (DPR) is 135.71%.

Wall Street Analyst Weigh In

PAA has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. Barclays increased their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.21.

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.