Kayne Anderson Capital Advisors LP Trims Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Kayne Anderson Capital Advisors LP decreased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,645,979 shares of the pipeline company’s stock after selling 1,892,127 shares during the quarter. Plains All American Pipeline makes up 2.3% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 15th largest holding. Kayne Anderson Capital Advisors LP owned about 0.80% of Plains All American Pipeline worth $96,433,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PAA. Janney Montgomery Scott LLC raised its holdings in Plains All American Pipeline by 8.2% in the third quarter. Janney Montgomery Scott LLC now owns 90,900 shares of the pipeline company’s stock worth $1,579,000 after purchasing an additional 6,921 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Plains All American Pipeline by 6.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 46,610 shares of the pipeline company’s stock valued at $810,000 after buying an additional 2,731 shares in the last quarter. ING Groep NV boosted its stake 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 worth $22,962,000 after acquiring an additional 297,937 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after buying an additional 887 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in Plains All American Pipeline by 100.0% during the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock valued at $139,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA opened at $19.32 on Wednesday. Plains All American Pipeline, L.P. has a 1 year low of $16.21 and a 1 year high of $21.00. The firm has a market cap of $13.60 billion, a P/E ratio of 26.47 and a beta of 1.62. The stock has a fifty day moving average price of $19.63 and a two-hundred day moving average price of $18.23. 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 firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.87%. Plains All American Pipeline’s payout ratio is 208.22%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut shares of 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 $20.00 in a research report on Wednesday, December 18th. Raymond James upped their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays raised their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Wolfe Research upgraded 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, 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 report on Friday, November 15th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.14.

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.