Plains All American Pipeline, L.P. (NYSE:PAA) Stock Position Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 30.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,936,982 shares of the pipeline company’s stock after buying an additional 1,162,933 shares during the period. CIBC Private Wealth Group LLC’s holdings in Plains All American Pipeline were worth $92,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Plains All American Pipeline by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after purchasing an additional 630,141 shares in the last quarter. ING Groep NV lifted its stake in Plains All American Pipeline by 194.5% during the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock valued at $66,486,000 after purchasing an additional 2,570,700 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in Plains All American Pipeline by 1.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after buying an additional 38,062 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Plains All American Pipeline by 14.0% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,436,900 shares of the pipeline company’s stock worth $41,622,000 after buying an additional 300,000 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Plains All American Pipeline by 1.6% in the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after buying an additional 32,061 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 0.6 %

Shares of NYSE:PAA opened at $20.21 on Monday. The firm has a fifty day moving average of $20.00 and a two-hundred day moving average of $18.45. 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 12-month low of $16.21 and a 12-month high of $21.00. The firm has a market capitalization of $14.22 billion, a P/E ratio of 27.68 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.52%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 208.22%.

Analyst Ratings Changes

Several research firms have recently weighed in on PAA. Morgan Stanley raised their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 25th. Scotiabank dropped their price target on 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. Barclays boosted their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Raymond James raised 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 report on Tuesday, January 28th. Finally, Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.23.

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.