Advisors Asset Management Inc. Purchases 65,887 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Advisors Asset Management Inc. raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 43.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,743 shares of the pipeline company’s stock after acquiring an additional 65,887 shares during the quarter. Advisors Asset Management Inc.’s holdings in Plains All American Pipeline were worth $3,719,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PAA. Wilmington Savings Fund Society FSB bought a new stake in Plains All American Pipeline during the 3rd quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. purchased a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its position in shares of 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 valued at $61,000 after buying an additional 3,368 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of 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 worth $139,000 after buying an additional 4,000 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in Plains All American Pipeline by 66.7% during the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock valued at $162,000 after acquiring an additional 3,800 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA opened at $20.24 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 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 company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 27.73 and a beta of 1.62. The firm’s 50-day moving average is $19.91 and its 200 day moving average is $18.33.

Plains All American Pipeline Increases Dividend

The firm 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 annualized dividend and a dividend yield of 7.51%. This is an increase 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 dividend payout ratio is presently 208.22%.

Analyst Ratings Changes

A number of brokerages have issued reports on PAA. Raymond James lifted their price target on shares of 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. Scotiabank decreased their target price 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 target for the company in a report on Friday, January 10th. Barclays lifted their price objective on 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. Finally, Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of “Hold” and an average 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.