Clearbridge Investments LLC Sells 398,337 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Clearbridge Investments LLC lessened its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 11.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,138,271 shares of the pipeline company’s stock after selling 398,337 shares during the period. Clearbridge Investments LLC’s holdings in Plains All American Pipeline were worth $53,602,000 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 PAA. Wilmington Savings Fund Society FSB bought a new position in Plains All American Pipeline in the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. bought a new position in Plains All American Pipeline in the fourth quarter worth about $27,000. Jones Financial Companies Lllp lifted its holdings in Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after buying an additional 3,368 shares during the period. CoreFirst Bank & Trust bought a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $97,000. Finally, Rothschild Investment LLC grew its holdings in shares of Plains All American Pipeline by 66.7% during the 4th quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock worth $162,000 after acquiring an additional 3,800 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 1.0 %

Plains All American Pipeline stock opened at $20.00 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 business’s fifty day moving average is $20.00 and its 200 day moving average is $18.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $14.08 billion, a PE ratio of 27.40 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 7.60%. 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 payout ratio is presently 208.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Scotiabank dropped their target price on shares of 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 lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Raymond James boosted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Barclays raised their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.23.

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.