Nuveen Asset Management LLC Boosts Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Nuveen Asset Management LLC boosted its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 116.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,345 shares of the pipeline company's stock after purchasing an additional 132,142 shares during the period. Nuveen Asset Management LLC's holdings in Plains All American Pipeline were worth $4,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 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 worth $66,486,000 after buying an additional 2,570,700 shares during the period. Barclays PLC increased its position in shares of Plains All American Pipeline by 110.4% in the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company's stock valued at $72,186,000 after acquiring an additional 2,218,014 shares during the period. Invesco Ltd. raised its stake in shares of Plains All American Pipeline by 4.6% during the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock valued at $475,301,000 after acquiring an additional 1,224,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Plains All American Pipeline by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock valued at $261,283,000 after acquiring an additional 1,211,286 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings 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 worth $92,470,000 after purchasing an additional 1,162,933 shares during the period. Institutional investors own 41.78% of the company's stock.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a research report on Friday, May 16th. Barclays reaffirmed an "underweight" rating and issued a $18.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Citigroup cut their price objective on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline currently has an average rating of "Moderate Buy" and a consensus price target of $20.45.

Plains All American Pipeline Stock Up 0.7%

Shares of NYSE:PAA traded up $0.11 on Wednesday, hitting $17.26. 310,137 shares of the company traded hands, compared to its average volume of 3,102,369. The stock has a 50 day simple moving average of $17.36 and a 200-day simple moving average of $18.42. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.14 billion, a PE ratio of 23.71 and a beta of 0.70. 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 (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm's revenue was up .1% on a year-over-year basis. As a group, research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.80%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline's dividend payout ratio is currently 163.44%.

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.