First Trust Advisors LP Increases Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

First Trust Advisors LP lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,984 shares of the pipeline company’s stock after buying an additional 47,914 shares during the period. First Trust Advisors LP’s holdings in Plains All American Pipeline were worth $5,773,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PAA. Wilmington Savings Fund Society FSB purchased a new position in Plains All American Pipeline in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. purchased a new position in Plains All American Pipeline in the 4th quarter worth approximately $27,000. National Bank of Canada FI purchased a new position in Plains All American Pipeline in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp increased its stake in Plains All American Pipeline by 1,684.0% in the 4th 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 during the period. Finally, CoreFirst Bank & Trust purchased a new position in Plains All American Pipeline in the 4th quarter worth approximately $97,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays cut their price objective on Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Scotiabank cut their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley lifted 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 report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.36.

Plains All American Pipeline Price Performance

Shares of PAA opened at $17.46 on Thursday. The stock has a market cap of $12.29 billion, a PE ratio of 23.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a fifty-two week low of $15.58 and a fifty-two week high of $21.00. The firm’s 50-day simple moving average is $18.80 and its two-hundred day simple moving average is $18.45.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.71%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 208.22%.

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.