Jones Financial Companies Lllp Boosts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Jones Financial Companies Lllp boosted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1,684.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,568 shares of the pipeline company’s stock after buying an additional 3,368 shares during the period. Jones Financial Companies Lllp’s holdings in Plains All American Pipeline were worth $61,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. US Bancorp DE increased its stake in Plains All American Pipeline by 0.8% during the 4th quarter. US Bancorp DE now owns 126,392 shares of the pipeline company’s stock worth $2,159,000 after buying an additional 1,003 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Plains All American Pipeline by 74.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 58,491 shares of the pipeline company’s stock worth $999,000 after buying an additional 25,013 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Plains All American Pipeline by 2.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 53,443 shares of the pipeline company’s stock worth $913,000 after buying an additional 1,048 shares in the last quarter. WT Wealth Management increased its stake in Plains All American Pipeline by 10.7% during the 4th quarter. WT Wealth Management now owns 29,081 shares of the pipeline company’s stock worth $497,000 after buying an additional 2,808 shares in the last quarter. Finally, Prasad Wealth Partners LLC purchased a new stake in Plains All American Pipeline during the 4th quarter worth approximately $280,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Up 1.3 %

PAA opened at $19.96 on Tuesday. Plains All American Pipeline, L.P. has a one year low of $16.21 and a one year high of $21.00. The stock has a market capitalization of $14.05 billion, a PE ratio of 27.34 and a beta of 1.62. The business’s 50 day moving average price is $19.81 and its 200 day moving average price is $18.29. 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 company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.62%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is 208.22%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PAA shares. Barclays boosted their price objective on 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. Wolfe Research upgraded 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 report on Friday, January 10th. Scotiabank lowered their target price on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Raymond James boosted their target price on 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.14.

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.