Corps Capital Advisors LLC Invests $836,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Corps Capital Advisors LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 48,971 shares of the pipeline company’s stock, valued at approximately $836,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after buying an additional 2,677,951 shares during the last quarter. Citigroup Inc. raised its holdings in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of Plains All American Pipeline by 1.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after purchasing an additional 38,062 shares during the period. Barclays PLC boosted 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 grew its position in shares of Plains All American Pipeline by 29.1% in the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after purchasing an additional 297,937 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAA has been the topic of a number of research analyst reports. Barclays raised their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Raymond James increased their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Wolfe Research raised 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 report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Stock Up 0.5 %

NYSE PAA opened at $20.47 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a fifty-two week low of $16.04 and a fifty-two week high of $21.00. The business has a 50 day moving average price of $18.84 and a two-hundred day moving average price of $17.97. The stock has a market cap of $14.40 billion, a PE ratio of 28.04 and a beta of 1.65.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.43%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

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.