Apollon Wealth Management LLC Buys 1,607 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Apollon Wealth Management LLC raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,217 shares of the pipeline company’s stock after acquiring an additional 1,607 shares during the period. Apollon Wealth Management LLC’s holdings in Plains All American Pipeline were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stratos Wealth Partners LTD. lifted its holdings in shares of Plains All American Pipeline by 15.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 21,409 shares of the pipeline company’s stock worth $366,000 after acquiring an additional 2,892 shares during the period. Spire Wealth Management lifted its holdings in shares of Plains All American Pipeline by 14.8% during the 4th quarter. Spire Wealth Management now owns 20,824 shares of the pipeline company’s stock worth $356,000 after acquiring an additional 2,691 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Plains All American Pipeline by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 215,193 shares of the pipeline company’s stock worth $4,031,000 after acquiring an additional 1,807 shares during the period. Caprock Group LLC bought a new position in shares of Plains All American Pipeline during the 4th quarter worth about $591,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Plains All American Pipeline during the 4th quarter worth about $1,708,000. 41.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PAA. Wolfe Research raised 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. Raymond James increased their target price on shares of 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. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Bank of America assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Finally, Barclays increased their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.21.

Plains All American Pipeline Stock Down 0.2 %

Shares of NYSE:PAA opened at $19.72 on Wednesday. Plains All American Pipeline, L.P. has a one year low of $15.45 and a one year high of $21.00. The company has a 50 day moving average of $18.65 and a 200-day moving average of $17.91. 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 stock has a market cap of $13.88 billion, a price-to-earnings ratio of 17.61 and a beta of 1.65.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.38 per share. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.71%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 135.71%.

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.