Oppenheimer Asset Management Inc. Boosts Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Oppenheimer Asset Management Inc. raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,443 shares of the pipeline company’s stock after purchasing an additional 1,048 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Plains All American Pipeline were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in Plains All American Pipeline in the fourth quarter valued at about $1,708,000. Stifel Financial Corp grew its stake in Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after purchasing an additional 54,111 shares during the last quarter. FMR LLC grew its stake in Plains All American Pipeline by 91.1% in the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. PFG Investments LLC grew its stake in Plains All American Pipeline by 47.0% in the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after purchasing an additional 14,432 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Plains All American Pipeline in the fourth quarter valued at about $591,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PAA. Raymond James lifted their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays boosted their price target 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. Wells Fargo & Company lowered 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 restated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.21.

Plains All American Pipeline Trading Down 3.3 %

Shares of NYSE:PAA opened at $19.30 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 market capitalization of $13.58 billion, a PE ratio of 26.44 and a beta of 1.65. The business has a 50 day moving average of $19.40 and a two-hundred day moving average of $18.18. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.88%. Plains All American Pipeline’s 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.