Naples Global Advisors LLC Makes New $188,000 Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Naples Global Advisors LLC acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,000 shares of the pipeline company’s stock, valued at approximately $188,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Plains All American Pipeline in the 4th quarter valued at approximately $27,000. Avior Wealth Management LLC lifted its holdings 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 valued at $139,000 after buying an additional 4,000 shares during the period. Westmount Partners LLC acquired a new stake in shares of Plains All American Pipeline in the 4th quarter valued at approximately $177,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at approximately $186,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PAA shares. Scotiabank reissued a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Wolfe Research raised 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. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Raymond James lifted their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Two investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.21.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $19.80 on Friday. The company has a market cap of $13.93 billion, a P/E ratio of 17.68 and a beta of 1.65. 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 52 week low of $15.64 and a 52 week high of $21.00. The business has a fifty day simple moving average of $18.71 and a 200-day simple moving average of $17.94.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given 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 dividend yield of 7.68%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is currently 135.71%.

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.