Summit Financial LLC Purchases New Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Summit Financial LLC acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 4th quarter, Holdings Channel.com reports. The firm acquired 57,229 shares of the pipeline company’s stock, valued at approximately $977,000.

Other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Plains All American Pipeline in the third quarter valued at about $27,000. Newbridge Financial Services Group Inc. acquired a new stake in Plains All American Pipeline in the 4th quarter worth about $27,000. Jones Financial Companies Lllp boosted its holdings in Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 3,368 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth approximately $97,000. Finally, Rothschild Investment LLC increased its holdings in shares of Plains All American Pipeline by 66.7% during the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 3,800 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.7 %

Shares of PAA opened at $20.28 on Thursday. 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, L.P. has a 52 week low of $16.21 and a 52 week high of $21.00. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 27.78 and a beta of 1.62. The stock has a fifty day moving average of $19.98 and a 200-day moving average of $18.50.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend yield of 7.50%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 208.22%.

Analyst Ratings Changes

PAA has been the subject of several recent research reports. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Raymond James increased 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. Morgan Stanley boosted their price target on Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 25th. Barclays increased their price objective 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. Finally, Scotiabank decreased 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.23.

Plains All American Pipeline 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.