Prasad Wealth Partners LLC Makes New $280,000 Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Prasad Wealth Partners LLC purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,391 shares of the pipeline company’s stock, valued at approximately $280,000.

Other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Plains All American Pipeline during the fourth quarter valued at approximately $1,708,000. Stifel Financial Corp increased its position in shares of Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after purchasing an additional 54,111 shares in the last quarter. FMR LLC lifted its holdings in shares of Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. PFG Investments LLC boosted its position in shares of Plains All American Pipeline by 47.0% in the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock worth $771,000 after purchasing an additional 14,432 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in Plains All American Pipeline during the 4th quarter worth $591,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $20.29 on Tuesday. The stock has a 50 day moving average of $19.05 and a two-hundred day moving average of $18.06. Plains All American Pipeline, L.P. has a 12 month low of $16.18 and a 12 month high of $21.00. The firm has a market cap of $14.28 billion, a P/E ratio of 27.79 and a beta of 1.65. 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 company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.49%. This is a boost 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 payout ratio is presently 208.22%.

Analysts Set New Price Targets

Several brokerages have weighed in on PAA. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Barclays increased their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Raymond James lifted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report 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 target price on the stock in a research note on Friday, January 10th. Finally, Scotiabank restated a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus target price of $20.21.

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.