Commonwealth Equity Services LLC Has $2.27 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Commonwealth Equity Services LLC lessened its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 5.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,155 shares of the pipeline company’s stock after selling 8,189 shares during the period. Commonwealth Equity Services LLC’s holdings in Plains All American Pipeline were worth $2,274,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Plains All American Pipeline during the 4th quarter valued at $1,708,000. Stifel Financial Corp increased its stake in shares of Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after buying an additional 54,111 shares in the last quarter. FMR LLC raised its holdings in shares of Plains All American Pipeline by 91.1% in the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after buying an additional 286,222 shares during the last quarter. PFG Investments LLC lifted its position in Plains All American Pipeline by 47.0% during the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock worth $771,000 after buying an additional 14,432 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in Plains All American Pipeline during the 4th quarter worth about $591,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 1.4 %

Shares of NYSE:PAA opened at $20.09 on Friday. The company has a 50 day moving average price of $19.99 and a two-hundred day moving average price of $18.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $14.14 billion, a PE ratio of 27.52 and a beta of 1.62. Plains All American Pipeline, L.P. has a 52 week low of $16.21 and a 52 week high of $21.00.

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 $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 7.57%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays boosted 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 note on Thursday, January 16th. Morgan Stanley upped their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday. Scotiabank lowered their target price on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Wolfe Research upgraded 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 report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.23.

About Plains All American Pipeline

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.