Whittier Trust Co. of Nevada Inc. Acquires Shares of 20,000 Plains All American Pipeline, L.P. (NYSE:PAA)

Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the pipeline company’s stock, valued at approximately $341,000.

Several other institutional investors have also added to or reduced their stakes in 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 stake in shares of Plains All American Pipeline by 194.5% in the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after purchasing an additional 2,570,700 shares during the last quarter. Citigroup Inc. grew its stake in shares of Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after purchasing an additional 1,125,386 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Plains All American Pipeline in the third quarter worth $11,634,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Plains All American Pipeline in the fourth quarter worth $11,247,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $19.97 on Monday. The firm’s 50-day moving average price is $19.94 and its 200-day moving average price is $18.35. Plains All American Pipeline, L.P. has a 1-year low of $16.21 and a 1-year high of $21.00. The firm has a market capitalization of $14.05 billion, a P/E ratio of 27.36 and a beta of 1.62. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PAA shares. 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. Wolfe Research raised 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 research report on Friday, January 10th. Barclays upped their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Scotiabank cut their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.92.

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.