Kovitz Investment Group Partners LLC Boosts Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Kovitz Investment Group Partners LLC boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,262 shares of the pipeline company's stock after purchasing an additional 27,491 shares during the period. Kovitz Investment Group Partners LLC owned 0.10% of Plains All American Pipeline worth $11,909,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PAA. Manning & Napier Advisors LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $1,708,000. PFG Investments LLC increased its position in 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 valued at $771,000 after acquiring an additional 14,432 shares during the period. Caprock Group LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at $591,000. Syntax Research Inc. acquired a new position in shares of Plains All American Pipeline during the third quarter worth $1,742,000. Finally, Clarus Group Inc. grew its stake in shares of Plains All American Pipeline by 30.5% in the fourth quarter. Clarus Group Inc. now owns 91,527 shares of the pipeline company's stock worth $1,563,000 after purchasing an additional 21,400 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Raymond James raised their target price on 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. Scotiabank dropped their price target on Plains All American Pipeline from $23.00 to $22.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Wolfe Research raised 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. Finally, Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.36.

Plains All American Pipeline Stock Down 2.0 %

Shares of Plains All American Pipeline stock traded down $0.34 during trading hours on Thursday, reaching $16.74. The company's stock had a trading volume of 2,645,540 shares, compared to its average volume of 3,055,546. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock's fifty day simple moving average is $18.80 and its two-hundred day simple moving average is $18.45. The company has a market capitalization of $11.78 billion, a P/E ratio of 22.89 and a beta of 1.17. Plains All American Pipeline, L.P. has a one year low of $15.58 and a one year high of $21.00.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.08%. The ex-dividend date is Thursday, May 1st. Plains All American Pipeline's dividend payout ratio is currently 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.