Parkside Financial Bank & Trust Boosts Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Parkside Financial Bank & Trust grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 74.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,491 shares of the pipeline company’s stock after acquiring an additional 25,013 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Plains All American Pipeline were worth $999,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Plains All American Pipeline by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after acquiring an additional 2,677,951 shares in the last quarter. ING Groep NV increased its stake in shares of Plains All American Pipeline by 194.5% in the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after buying an additional 2,570,700 shares during the period. Citigroup Inc. increased its stake in shares of Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after buying an additional 1,125,386 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Plains All American Pipeline by 1.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after buying an additional 38,062 shares during the period. Finally, Barclays PLC increased its stake in shares of Plains All American Pipeline by 1.6% in the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after buying an additional 32,061 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PAA. Barclays lifted their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. 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 note on Friday, January 10th. Scotiabank reaffirmed a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $19.96 on Friday. Plains All American Pipeline, L.P. has a 12 month low of $16.21 and a 12 month high of $21.00. The stock has a market cap of $14.05 billion, a PE ratio of 27.34 and a beta of 1.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $19.23 and its 200-day moving average price is $18.11.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.62%. 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 payout ratio 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.