Forvis Mazars Wealth Advisors LLC Lowers Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Forvis Mazars Wealth Advisors LLC cut its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 181,567 shares of the pipeline company’s stock after selling 2,200 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Plains All American Pipeline were worth $3,101,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new position in Plains All American Pipeline in the 4th quarter valued at about $1,708,000. Stifel Financial Corp increased its holdings in shares of 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 period. FMR LLC raised its stake in shares of Plains All American Pipeline by 91.1% during the third 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 during the last quarter. PFG Investments LLC lifted its holdings in shares of Plains All American Pipeline by 47.0% during the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock worth $771,000 after purchasing an additional 14,432 shares during the period. Finally, Caprock Group LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter worth $591,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PAA. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. Barclays increased their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Scotiabank reaffirmed a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, January 10th. Raymond James boosted their target price 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. Finally, Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.21.

Plains All American Pipeline Stock Down 0.7 %

Plains All American Pipeline stock opened at $20.48 on Monday. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 28.05 and a beta of 1.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a fifty-two week low of $16.18 and a fifty-two week high of $21.00. The stock’s fifty day moving average is $19.00 and its two-hundred day moving average is $18.04.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.42%. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 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.