US Bancorp DE Boosts Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

US Bancorp DE increased its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,389 shares of the pipeline company’s stock after purchasing an additional 2,658 shares during the quarter. US Bancorp DE’s holdings in Plains All American Pipeline were worth $2,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Stockton bought a new position in Plains All American Pipeline in the 3rd quarter worth about $229,000. International Assets Investment Management LLC boosted its position in shares of Plains All American Pipeline by 1,006.4% in the third quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock valued at $1,164,000 after acquiring an additional 60,979 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in Plains All American Pipeline by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after acquiring an additional 1,047 shares in the last quarter. Private Advisor Group LLC grew its stake in Plains All American Pipeline by 57.9% during the third quarter. Private Advisor Group LLC now owns 168,703 shares of the pipeline company’s stock valued at $2,930,000 after acquiring an additional 61,858 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock worth $7,813,000 after acquiring an additional 317,927 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PAA shares. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Stock Up 3.0 %

Shares of NYSE PAA opened at $17.43 on Thursday. The stock has a market capitalization of $12.22 billion, a P/E ratio of 15.85 and a beta of 1.61. Plains All American Pipeline, L.P. has a one year low of $14.46 and a one year high of $19.17. The firm’s 50 day simple moving average is $17.40 and its two-hundred day simple moving average is $17.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.29%. The ex-dividend date of this dividend is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is presently 115.45%.

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.