Maryland State Retirement & Pension System Lowers Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Maryland State Retirement & Pension System lessened its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 383,087 shares of the pipeline company’s stock after selling 7,589 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Plains All American Pipeline were worth $6,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PAA. Wilmington Savings Fund Society FSB purchased a new position in Plains All American Pipeline during the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. purchased a new position in Plains All American Pipeline during the fourth quarter worth about $27,000. Jones Financial Companies Lllp raised its holdings in Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 3,368 shares in the last quarter. Avior Wealth Management LLC lifted its position in Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock valued at $139,000 after purchasing an additional 4,000 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in Plains All American Pipeline by 66.7% in the 4th quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 3,800 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 1.3 %

Shares of PAA opened at $20.19 on Thursday. Plains All American Pipeline, L.P. has a 1-year low of $16.21 and a 1-year high of $21.00. 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 firm has a 50 day simple moving average of $19.88 and a 200-day simple moving average of $18.31. The stock has a market cap of $14.21 billion, a price-to-earnings ratio of 27.66 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.53%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s payout ratio is 208.22%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PAA. Raymond James raised their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Scotiabank lowered their price target on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wolfe Research upgraded 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 research note on Friday, January 10th. Finally, Barclays increased 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.92.

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.