Plains All American Pipeline, L.P. (NYSE:PAA) Stock Position Lifted by Invesco Ltd.

Invesco Ltd. raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,827,930 shares of the pipeline company’s stock after buying an additional 1,224,381 shares during the quarter. Invesco Ltd. owned 3.95% of Plains All American Pipeline worth $475,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth $1,708,000. Stifel Financial Corp increased its position in Plains All American Pipeline by 30.6% in the 3rd 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 last quarter. FMR LLC raised its stake in shares of Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after purchasing an additional 286,222 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Plains All American Pipeline by 47.0% during the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after buying an additional 14,432 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Plains All American Pipeline in the 4th quarter valued at approximately $591,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 2.7 %

Shares of PAA stock opened at $16.03 on Wednesday. The firm has a market capitalization of $11.28 billion, a P/E ratio of 21.96 and a beta of 1.17. Plains All American Pipeline, L.P. has a 1 year low of $15.84 and a 1 year high of $21.00. The firm’s fifty day simple moving average is $19.64 and its 200 day simple moving average is $18.47. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.38 dividend. 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 payout ratio is presently 208.22%.

Analyst Ratings Changes

PAA has been the subject of a number of analyst reports. Wells Fargo & Company cut shares of 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 note on Wednesday, December 18th. 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 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. Scotiabank decreased their price target on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.