Independent Advisor Alliance Sells 1,270 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Independent Advisor Alliance decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,569 shares of the pipeline company’s stock after selling 1,270 shares during the period. Independent Advisor Alliance’s holdings in Plains All American Pipeline were worth $1,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PAA. Manning & Napier Advisors LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter valued at $1,708,000. Stifel Financial Corp grew its stake in 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 last quarter. FMR LLC grew its stake in Plains All American Pipeline by 91.1% in the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. PFG Investments LLC raised its holdings in Plains All American Pipeline by 47.0% in 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 in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $591,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $19.71 on Friday. Plains All American Pipeline, L.P. has a 52 week low of $16.21 and a 52 week high of $21.00. The business’s 50 day moving average price is $19.76 and its 200 day moving average price is $18.26. 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 firm has a market cap of $13.87 billion, a P/E ratio of 27.00 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. 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 dividend yield of 7.71%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is 208.22%.

Analyst Ratings Changes

PAA has been the topic of a number of analyst reports. Scotiabank cut their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Raymond James increased their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.14.

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.