Cohen & Steers Inc. Buys 20,020 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Cohen & Steers Inc. lifted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,561,945 shares of the pipeline company’s stock after purchasing an additional 20,020 shares during the period. Cohen & Steers Inc. owned about 0.22% of Plains All American Pipeline worth $26,678,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at $1,708,000. Stifel Financial Corp boosted its holdings in shares of Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after purchasing an additional 54,111 shares during the period. PFG Investments LLC grew its stake in shares of 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 during the last quarter. Caprock Group LLC purchased a new position in Plains All American Pipeline during the 4th quarter valued at about $591,000. Finally, Syntax Research Inc. purchased a new position in Plains All American Pipeline during the 3rd quarter valued at about $1,742,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $16.78 on Monday. The stock’s 50 day moving average is $19.38 and its 200 day moving average is $18.45. The company has a market capitalization of $11.81 billion, a P/E ratio of 22.99 and a beta of 1.17. Plains All American Pipeline, L.P. has a twelve month low of $15.58 and a twelve month high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 9.06%. Plains All American Pipeline’s payout ratio is presently 208.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PAA shares. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Scotiabank cut their price target on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Raymond James upped their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Barclays cut their target price on shares of Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, 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 note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.50.

Plains All American Pipeline 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.