Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 30.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,936,982 shares of the pipeline company's stock after purchasing an additional 1,162,933 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.70% of Plains All American Pipeline worth $92,470,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PAA. JPMorgan Chase & Co. raised its position in Plains All American Pipeline by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company's stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. ING Groep NV raised its holdings 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 last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Plains All American Pipeline during the third quarter worth about $11,634,000. Raymond James Financial Inc. purchased a new position in shares of Plains All American Pipeline in the 4th quarter valued at approximately $11,247,000. Finally, Duff & Phelps Investment Management Co. grew its position in Plains All American Pipeline by 14.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 2,436,900 shares of the pipeline company's stock valued at $41,622,000 after buying an additional 300,000 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PAA shares. Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Raymond James lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley increased their price objective 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. 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 research report on Thursday, March 6th. Finally, Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.23.

Plains All American Pipeline Price Performance

PAA traded down $1.90 during midday trading on Friday, reaching $17.34. 10,633,197 shares of the company's stock were exchanged, compared to its average volume of 3,088,607. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The business's 50-day moving average price is $19.89 and its 200 day moving average price is $18.50. Plains All American Pipeline, L.P. has a 1-year low of $16.21 and a 1-year high of $21.00. The stock has a market capitalization of $12.20 billion, a PE ratio of 23.75 and a beta of 1.62.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.77%. The ex-dividend date is Thursday, May 1st. Plains All American Pipeline's payout ratio is 208.22%.

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.