Hardy Reed LLC Boosts Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Hardy Reed LLC raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,850 shares of the pipeline company’s stock after buying an additional 4,400 shares during the quarter. Hardy Reed LLC’s holdings in Plains All American Pipeline were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth about $27,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth about $27,000. Avior Wealth Management LLC boosted 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 worth $139,000 after purchasing an additional 4,000 shares in the last quarter. Westmount Partners LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth about $177,000. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth about $186,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Up 0.5 %

PAA stock opened at $20.47 on Thursday. Plains All American Pipeline, L.P. has a fifty-two week low of $16.04 and a fifty-two week high of $21.00. The business’s 50 day moving average price is $18.84 and its two-hundred day moving average price is $17.97. 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 $14.40 billion, a price-to-earnings ratio of 13.48 and a beta of 1.65.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. 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 7.43%. Plains All American Pipeline’s dividend payout ratio is 208.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PAA shares. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Barclays boosted their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Scotiabank reissued a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.21.

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.