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

CoreFirst Bank & Trust acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the fourth quarter, Holdings Channel.com reports. The firm acquired 5,689 shares of the pipeline company’s stock, valued at approximately $97,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Thrivent Financial for Lutherans raised its position in Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Plains All American Pipeline by 970.6% during the 3rd quarter. Cerity Partners LLC now owns 179,847 shares of the pipeline company’s stock valued at $3,124,000 after purchasing an additional 163,049 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Plains All American Pipeline by 400.0% in the 3rd quarter. Larson Financial Group LLC now owns 12,500 shares of the pipeline company’s stock valued at $217,000 after purchasing an additional 10,000 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Plains All American Pipeline by 572.0% during the third quarter. Brown Brothers Harriman & Co. now owns 29,972 shares of the pipeline company’s stock worth $521,000 after buying an additional 25,512 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in Plains All American Pipeline by 8.4% during the third quarter. D.A. Davidson & CO. now owns 22,887 shares of the pipeline company’s stock valued at $398,000 after buying an additional 1,770 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.0 %

PAA stock opened at $20.18 on Wednesday. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 27.64 and a beta of 1.62. The firm has a 50-day moving average of $19.97 and a two-hundred day moving average of $18.39. 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 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given 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 of this dividend was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.53%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 208.22%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PAA shares. Barclays upped 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. Raymond James increased their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Morgan Stanley upped their target price on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and an average target price 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.