Tortoise Capital Advisors L.L.C. Purchases 75,509 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Tortoise Capital Advisors L.L.C. increased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,321,966 shares of the pipeline company’s stock after acquiring an additional 75,509 shares during the period. Plains All American Pipeline comprises 2.9% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 14th largest holding. Tortoise Capital Advisors L.L.C.’s holdings in Plains All American Pipeline were worth $227,539,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Plains All American Pipeline by 4.6% in the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock valued at $475,301,000 after purchasing an additional 1,224,381 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Plains All American Pipeline by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock worth $134,107,000 after buying an additional 630,141 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Plains All American Pipeline by 30.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after purchasing an additional 1,162,933 shares in the last quarter. Barclays PLC grew its position in Plains All American Pipeline by 110.4% during the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after acquiring an additional 2,218,014 shares during the last quarter. Finally, ING Groep NV increased 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 valued at $66,486,000 after buying an additional 2,570,700 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Price Performance

Shares of PAA opened at $17.74 on Friday. The business’s 50 day moving average price is $19.14 and its two-hundred day moving average price is $18.44. The firm has a market cap of $12.48 billion, a PE ratio of 24.30 and a beta of 1.17. 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 $15.58 and a 52-week high of $21.00.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.57%. Plains All American Pipeline’s dividend payout ratio is 208.22%.

Analysts Set New Price Targets

A number of research firms have weighed in on PAA. Barclays reduced their target price on shares of Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Scotiabank decreased their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Morgan Stanley raised their target price on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Wolfe Research upgraded 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. Finally, Raymond James raised their price objective 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.36.

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.