Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Blackstone Inc.

Blackstone Inc. trimmed its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 52.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,433,161 shares of the pipeline company's stock after selling 15,756,944 shares during the quarter. Plains All American Pipeline accounts for approximately 1.1% of Blackstone Inc.'s portfolio, making the stock its 15th biggest position. Blackstone Inc. owned about 2.05% of Plains All American Pipeline worth $246,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors grew its position in Plains All American Pipeline by 1.7% in the 4th quarter. Captrust Financial Advisors now owns 65,280 shares of the pipeline company's stock valued at $1,115,000 after acquiring an additional 1,060 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in Plains All American Pipeline in the 4th quarter valued at approximately $1,575,000. Mercer Global Advisors Inc. ADV increased its position in shares of Plains All American Pipeline by 12.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 31,486 shares of the pipeline company's stock worth $538,000 after acquiring an additional 3,573 shares during the period. Ion Asset Management Ltd. grew its stake in Plains All American Pipeline by 24.1% during the 4th quarter. Ion Asset Management Ltd. now owns 24,200 shares of the pipeline company's stock worth $413,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in Plains All American Pipeline by 14.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 74,084 shares of the pipeline company's stock worth $1,265,000 after purchasing an additional 9,235 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Down 0.5 %

PAA opened at $16.63 on Monday. Plains All American Pipeline, L.P. has a one year low of $15.58 and a one year high of $21.00. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 22.78 and a beta of 1.17. The business's fifty day moving average is $18.66 and its two-hundred day moving average is $18.46. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.14%. The ex-dividend date is Thursday, May 1st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 208.22%.

Analyst Ratings Changes

Several brokerages recently weighed in on PAA. Scotiabank reduced 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 report on Thursday, March 6th. Morgan Stanley increased their target price on Plains All American Pipeline from $19.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, March 25th. Raymond James upped 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. Wolfe Research raised Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Friday, January 10th. Finally, Barclays reduced their price objective on shares of Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $20.36.

Plains All American Pipeline 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.

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