Morningstar Investment Management LLC Trims Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Morningstar Investment Management LLC trimmed its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 31.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 93,864 shares of the pipeline company’s stock after selling 42,670 shares during the period. Morningstar Investment Management LLC’s holdings in Plains All American Pipeline were worth $1,603,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hardy Reed LLC lifted its holdings in shares of Plains All American Pipeline by 11.7% in the 4th quarter. Hardy Reed LLC now owns 41,850 shares of the pipeline company’s stock valued at $715,000 after buying an additional 4,400 shares during the period. Corps Capital Advisors LLC purchased a new position in Plains All American Pipeline during the fourth quarter valued at approximately $836,000. Ieq Capital LLC acquired a new position in Plains All American Pipeline in the fourth quarter valued at approximately $221,000. Financial Sense Advisors Inc. boosted its position in Plains All American Pipeline by 5.4% in the 4th quarter. Financial Sense Advisors Inc. now owns 16,027 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 823 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in shares of Plains All American Pipeline by 30.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 93,562 shares of the pipeline company’s stock worth $1,598,000 after purchasing an additional 21,969 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 0.5 %

Shares of PAA stock opened at $20.47 on Thursday. Plains All American Pipeline, L.P. has a fifty-two week low of $16.04 and a fifty-two week high of $21.00. The firm has a market capitalization of $14.40 billion, a P/E ratio of 13.48 and a beta of 1.65. The stock’s fifty day moving average is $18.84 and its two-hundred day moving average is $17.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.43%. 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. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PAA shares. Barclays boosted their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Raymond James raised 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.21.

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.