Lee Financial Co Raises Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Lee Financial Co boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,875 shares of the pipeline company’s stock after acquiring an additional 3,170 shares during the quarter. Lee Financial Co’s holdings in Plains All American Pipeline were worth $749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in Plains All American Pipeline in the fourth quarter worth $27,000. Avior Wealth Management LLC grew its stake in shares of Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 4,000 shares during the last quarter. Westmount Partners LLC purchased a new stake in shares of Plains All American Pipeline in the fourth quarter worth $177,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Plains All American Pipeline during the third quarter valued at $186,000. Institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PAA has been the topic of several recent analyst reports. Scotiabank reissued a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Barclays upped their price objective on 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. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $19.80 on Friday. The stock has a 50 day moving average price of $18.75 and a 200 day moving average price of $17.95. Plains All American Pipeline, L.P. has a 52-week low of $15.64 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market capitalization of $13.93 billion, a P/E ratio of 13.25 and a beta of 1.65.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s payout ratio is currently 135.71%.

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.