MPI Investment Management Inc. bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,935 shares of the pipeline company’s stock, valued at approximately $288,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new position in Plains All American Pipeline in the second quarter valued at about $118,000. BB&T Investment Services Inc. bought a new position in shares of Plains All American Pipeline in the second quarter worth about $108,000. Advisory Services Network LLC raised its stake in shares of Plains All American Pipeline by 5.1% in the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after buying an additional 223 shares during the period. American Assets Investment Management LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter worth about $103,000. Finally, Welch Group LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter worth about $134,000. 42.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Plains All American Pipeline, L.P. (PAA) traded down $0.08 during mid-day trading on Thursday, reaching $22.68. The company had a trading volume of 1,641,339 shares, compared to its average volume of 3,833,349. Plains All American Pipeline, L.P. has a 1 year low of $18.38 and a 1 year high of $33.01. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. The stock has a market cap of $16,480.00, a P/E ratio of 24.65 and a beta of 0.87.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.20 annualized dividend and a yield of 5.29%. Plains All American Pipeline’s payout ratio is presently 130.43%.
Several research analysts have recently commented on PAA shares. Jefferies Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Plains All American Pipeline in a research note on Friday, January 12th. Seaport Global Securities raised Plains All American Pipeline from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $25.00 in a research note on Thursday, February 8th. Barclays cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and set a $26.00 price target for the company. in a report on Wednesday, January 17th. SunTrust Banks restated a “hold” rating and set a $24.00 price target on shares of Plains All American Pipeline in a report on Friday, November 10th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $21.00 target price on shares of Plains All American Pipeline in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Plains All American Pipeline has an average rating of “Hold” and a consensus price target of $26.79.
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About Plains All American Pipeline
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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