JPMorgan Chase & Co. Boosts Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

JPMorgan Chase & Co. lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,851,712 shares of the pipeline company’s stock after buying an additional 630,141 shares during the period. JPMorgan Chase & Co. owned approximately 1.12% of Plains All American Pipeline worth $134,107,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PAA. ING Groep NV boosted its holdings in shares of Plains All American Pipeline by 194.5% during the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock valued at $66,486,000 after acquiring an additional 2,570,700 shares during the last quarter. Miller Howard Investments Inc. NY grew its position in Plains All American Pipeline by 1.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after purchasing an additional 38,062 shares during the period. Barclays PLC raised its stake in Plains All American Pipeline by 1.6% during the 3rd 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 during the last quarter. Adams Asset Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 0.6% during the 4th quarter. Adams Asset Advisors LLC now owns 767,558 shares of the pipeline company’s stock valued at $13,110,000 after buying an additional 4,617 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth $11,634,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Up 0.6 %

NYSE PAA opened at $20.13 on Wednesday. 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 current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market cap of $14.17 billion, a PE ratio of 27.58 and a beta of 1.62. The stock’s 50 day moving average is $19.99 and its 200 day moving average is $18.49.

Plains All American Pipeline Increases Dividend

The business also recently announced 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 positive change 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 dividend yield of 7.55%. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays increased their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Raymond James raised their price objective 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. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Scotiabank reduced their price objective 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. Finally, Morgan Stanley raised their target price on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.