Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 53,443 shares of the pipeline company’s stock after buying an additional 1,048 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Plains All American Pipeline were worth $913,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its stake 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 worth $125,439,000 after buying an additional 2,677,951 shares during the period. ING Groep NV raised its stake in shares of Plains All American Pipeline by 194.5% during the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after buying an additional 2,570,700 shares during the period. Citigroup Inc. raised its stake in shares of 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 worth $59,560,000 after buying an additional 1,125,386 shares during the period. Miller Howard Investments Inc. NY raised its stake in shares of Plains All American Pipeline by 1.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after buying an additional 38,062 shares during the period. Finally, Barclays PLC raised its stake in shares of Plains All American Pipeline by 1.6% during the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after buying an additional 32,061 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Raymond James upped 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 note on Tuesday, January 28th. Scotiabank reiterated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Finally, 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 report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.21.

Plains All American Pipeline Stock Down 3.3 %

Shares of NYSE:PAA opened at $19.30 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $19.40 and a two-hundred day moving average of $18.18. The stock has a market cap of $13.58 billion, a P/E ratio of 26.44 and a beta of 1.65. Plains All American Pipeline, L.P. has a 52-week low of $16.21 and a 52-week high of $21.00.

Plains All American Pipeline Increases Dividend

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