Geode Capital Management LLC Buys 1,198 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Geode Capital Management LLC boosted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 596,974 shares of the pipeline company’s stock after acquiring an additional 1,198 shares during the quarter. Geode Capital Management LLC owned 0.08% of Plains All American Pipeline worth $10,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. ING Groep NV grew its position in shares of Plains All American Pipeline by 194.5% in the 4th 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 last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Plains All American Pipeline by 30.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after buying an additional 1,162,933 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Plains All American Pipeline during the fourth quarter valued at approximately $11,247,000. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Plains All American Pipeline by 14.0% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,436,900 shares of the pipeline company’s stock valued at $41,622,000 after acquiring an additional 300,000 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Up 2.4 %

Shares of NYSE:PAA opened at $17.75 on Wednesday. Plains All American Pipeline, L.P. has a 12-month low of $15.58 and a 12-month high of $21.00. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 24.32 and a beta of 1.17. The stock has a fifty day simple moving average of $19.07 and a two-hundred day simple moving average of $18.44. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.56%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline’s payout ratio is 208.22%.

Wall Street Analysts Forecast Growth

PAA has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Morgan Stanley lifted their target price on shares of 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 decreased their price target on shares of Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Scotiabank cut their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Finally, 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 research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.36.

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.