Parkside Financial Bank & Trust Acquires 25,013 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Parkside Financial Bank & Trust increased its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 74.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 58,491 shares of the pipeline company’s stock after acquiring an additional 25,013 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Plains All American Pipeline were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PAA. JPMorgan Chase & Co. boosted its stake in Plains All American Pipeline by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after purchasing an additional 2,677,951 shares in the last quarter. ING Groep NV boosted its stake in Plains All American Pipeline by 194.5% in the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after purchasing an additional 2,570,700 shares in the last quarter. Citigroup Inc. boosted its stake in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after purchasing an additional 1,125,386 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in Plains All American Pipeline in the 3rd quarter worth about $11,634,000. Finally, FMR LLC boosted its stake in Plains All American Pipeline by 91.1% in the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after purchasing an additional 286,222 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

PAA has been the subject of a number of recent analyst reports. Scotiabank reissued a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 10th. Wolfe Research raised shares of 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 research report on Friday, January 10th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Barclays increased their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Stock Down 0.7 %

NYSE PAA opened at $19.96 on Friday. The business has a fifty day moving average price of $19.23 and a 200 day moving average price of $18.11. Plains All American Pipeline, L.P. has a one year low of $16.21 and a one year high of $21.00. 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 cap of $14.05 billion, a P/E ratio of 27.34 and a beta of 1.65.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.62%. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is presently 208.22%.

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.