Financial Counselors Inc. Has $258,000 Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Financial Counselors Inc. lowered its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,077 shares of the pipeline company’s stock after selling 3,000 shares during the period. Financial Counselors Inc.’s holdings in Plains All American Pipeline were worth $258,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB bought a new stake in shares of Plains All American Pipeline in the third quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Plains All American Pipeline during the 4th quarter valued at $27,000. Jones Financial Companies Lllp lifted its position in shares of Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after acquiring an additional 3,368 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth $97,000. Finally, Rothschild Investment LLC increased its position in shares of Plains All American Pipeline by 66.7% in the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 3,800 shares during the period. 41.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PAA. Scotiabank cut their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Morgan Stanley increased their price target on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Barclays raised their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, Wolfe Research raised 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 report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $20.23.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $20.21 on Friday. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 27.68 and a beta of 1.62. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $20.00 and its 200-day moving average price is $18.44. Plains All American Pipeline, L.P. has a 12 month low of $16.21 and a 12 month high of $21.00.

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 represents a $1.52 dividend on an annualized basis and a yield of 7.52%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 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.