Wealth Alliance Sells 8,874 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Wealth Alliance decreased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 43.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,487 shares of the pipeline company’s stock after selling 8,874 shares during the period. Wealth Alliance’s holdings in Plains All American Pipeline were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PAA. JPMorgan Chase & Co. lifted its holdings in shares of Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. Citigroup Inc. increased its position in Plains All American Pipeline by 48.9% during the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after buying an additional 1,125,386 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in Plains All American Pipeline by 1.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock valued at $44,594,000 after buying an additional 38,062 shares during the last quarter. Barclays PLC boosted its holdings in Plains All American Pipeline by 1.6% in the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after acquiring an additional 32,061 shares in the last quarter. Finally, ING Groep NV grew its stake in shares of Plains All American Pipeline by 29.1% during the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock worth $22,962,000 after acquiring an additional 297,937 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PAA shares. Raymond James increased their price objective 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. Scotiabank reaffirmed a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Finally, Barclays lifted their price target on 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.21.

Plains All American Pipeline Trading Down 0.7 %

Shares of NYSE:PAA opened at $20.48 on Friday. 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, L.P. has a 12-month low of $16.18 and a 12-month high of $21.00. The business has a 50 day moving average of $19.00 and a two-hundred day moving average of $18.03. The company has a market capitalization of $14.41 billion, a PE ratio of 28.05 and a beta of 1.65.

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 paid 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 dividend yield of 7.42%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s payout ratio is currently 208.22%.

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.