Advisors Asset Management Inc. Buys 65,887 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Advisors Asset Management Inc. grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 43.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 217,743 shares of the pipeline company’s stock after acquiring an additional 65,887 shares during the period. Advisors Asset Management Inc.’s holdings in Plains All American Pipeline were worth $3,719,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth $1,708,000. Stifel Financial Corp raised its holdings in shares of Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after acquiring an additional 54,111 shares in the last quarter. FMR LLC lifted its stake in Plains All American Pipeline by 91.1% in 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 grew its holdings in Plains All American Pipeline by 47.0% during the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock worth $771,000 after acquiring an additional 14,432 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in Plains All American Pipeline during the 4th quarter valued at about $591,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of 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 research report on Wednesday, December 18th. 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 report on Thursday, January 16th. Scotiabank reduced their price target 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. Raymond James raised their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given 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 a consensus price target of $19.92.

Plains All American Pipeline Trading Up 0.2 %

NYSE:PAA opened at $20.24 on Friday. The company has a market capitalization of $14.24 billion, a P/E ratio of 27.73 and a beta of 1.62. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12 month low of $16.21 and a 12 month high of $21.00. The firm has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $18.33.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.38 per share. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.51%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is currently 208.22%.

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.