Hardy Reed LLC Boosts Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Hardy Reed LLC increased its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,850 shares of the pipeline company’s stock after buying an additional 4,400 shares during the quarter. Hardy Reed LLC’s holdings in Plains All American Pipeline were worth $715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $27,000. Avior Wealth Management LLC grew its stake in shares of Plains All American Pipeline by 100.0% in the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after buying an additional 4,000 shares during the last quarter. Westmount Partners LLC purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $177,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at $186,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PAA. Scotiabank reiterated a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price 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. Raymond James increased their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $20.47 on Thursday. Plains All American Pipeline, L.P. has a one year low of $16.04 and a one year high of $21.00. The stock’s fifty day moving average is $18.84 and its 200 day moving average is $17.97. The stock has a market cap of $14.40 billion, a P/E ratio of 13.48 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 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 issued a $0.38 dividend. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio (DPR) 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.