Cerity Partners LLC Decreases Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Cerity Partners LLC decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 167,072 shares of the pipeline company’s stock after selling 12,775 shares during the period. Cerity Partners LLC’s holdings in Plains All American Pipeline were worth $2,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PAA. Wilmington Savings Fund Society FSB purchased a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. acquired a new stake in Plains All American Pipeline in the 4th quarter valued at $27,000. National Bank of Canada FI purchased a new position in Plains All American Pipeline in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp lifted its stake in shares of Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 3,368 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in shares of Plains All American Pipeline during the fourth quarter worth about $97,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PAA. Raymond James raised their target price 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. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley raised their price target on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, March 25th. Finally, Barclays dropped their price target 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, April 10th. One investment analyst has 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Plains All American Pipeline Stock Up 2.3 %

NYSE:PAA opened at $17.17 on Tuesday. The stock has a 50-day simple moving average of $19.31 and a 200 day simple moving average of $18.45. Plains All American Pipeline, L.P. has a one year low of $15.58 and a one year high of $21.00. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 23.52 and a beta of 1.17. 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 Announces Dividend

The company 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 $0.38 dividend. The ex-dividend date is Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.85%. Plains All American Pipeline’s dividend payout ratio (DPR) is 208.22%.

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.