CoreFirst Bank & Trust Acquires Shares of 5,689 Plains All American Pipeline, L.P. (NYSE:PAA)

CoreFirst Bank & Trust bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,689 shares of the pipeline company’s stock, valued at approximately $97,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Plains All American Pipeline in the third quarter worth about $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 3,368 shares in the last quarter. Rothschild Investment LLC increased its holdings 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 buying an additional 3,800 shares during the period. Finally, Avior Wealth Management LLC raised its stake in Plains All American Pipeline by 21.3% in the fourth quarter. Avior Wealth Management LLC now owns 9,705 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,705 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $20.18 on Wednesday. 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 stock has a 50-day moving average of $19.97 and a two-hundred day moving average of $18.39. The stock has a market cap of $14.20 billion, a P/E ratio of 27.64 and a beta of 1.62. Plains All American Pipeline, L.P. has a one year low of $16.21 and a one year high of $21.00.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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 was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.53%. Plains All American Pipeline’s payout ratio is 208.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAA. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Scotiabank cut 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 note on Thursday, March 6th. Raymond James increased 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 research report on Tuesday, January 28th. Barclays lifted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.23.

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.