Plains All American Pipeline, L.P. (NYSE:PAA) Stock Holdings Lessened by Mariner LLC

Mariner LLC reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 968,921 shares of the pipeline company’s stock after selling 16,082 shares during the quarter. Mariner LLC’s holdings in Plains All American Pipeline were worth $16,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAA. JPMorgan Chase & Co. lifted its position in Plains All American Pipeline by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after buying an additional 2,677,951 shares in the last quarter. ING Groep NV increased its stake in shares of Plains All American Pipeline by 194.5% in the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after acquiring an additional 2,570,700 shares during the last quarter. Barclays PLC raised its holdings in shares of Plains All American Pipeline by 110.4% during the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after acquiring an additional 2,218,014 shares in the last quarter. Invesco Ltd. boosted its position in Plains All American Pipeline by 4.6% during the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock valued at $475,301,000 after purchasing an additional 1,224,381 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Plains All American Pipeline by 30.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after purchasing an additional 1,162,933 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of recent research reports. Scotiabank cut 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 note on Thursday, March 6th. Barclays cut their price objective on shares of Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, 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 report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.36.

Plains All American Pipeline Stock Up 0.2 %

PAA stock opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50-day moving average of $19.22 and a two-hundred day moving average of $18.43. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 23.97 and a beta of 1.17. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-week high of $21.00.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.69%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 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.