Greenland Capital Management LP Buys Shares of 25,000 Plains All American Pipeline, L.P. (NYSE:PAA)

Greenland Capital Management LP purchased a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 25,000 shares of the pipeline company’s stock, valued at approximately $427,000.

A number of other institutional investors have also recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB purchased a new position in Plains All American Pipeline in the third quarter worth $27,000. Newbridge Financial Services Group Inc. bought a new stake in Plains All American Pipeline during the fourth quarter worth about $27,000. National Bank of Canada FI bought a new position in shares of Plains All American Pipeline during the 4th quarter valued at about $27,000. Jones Financial Companies Lllp raised its holdings 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 buying an additional 3,368 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new position in shares of Plains All American Pipeline during the 4th quarter valued at about $97,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $16.03 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. Plains All American Pipeline, L.P. has a twelve month low of $15.84 and a twelve month high of $21.00. The stock has a market cap of $11.28 billion, a P/E ratio of 21.96 and a beta of 1.17. The firm’s fifty day simple moving average is $19.64 and its 200 day simple moving average is $18.47.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.48%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Wall Street Analyst Weigh In

PAA has been the topic of a number of recent research reports. Barclays increased their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Raymond James increased their target price on shares of 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. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Morgan Stanley raised their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Finally, Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.23.

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.