Tortoise Capital Advisors L.L.C. Raises Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Tortoise Capital Advisors L.L.C. grew its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,321,966 shares of the pipeline company's stock after buying an additional 75,509 shares during the period. Plains All American Pipeline makes up 2.9% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 14th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 1.89% of Plains All American Pipeline worth $227,539,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in Plains All American Pipeline in the fourth quarter worth $27,000. National Bank of Canada FI purchased a new position in Plains All American Pipeline during the fourth quarter worth $27,000. Jones Financial Companies Lllp increased its position in Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 3,368 shares during the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $97,000. 41.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAA has been the subject of a number of recent analyst reports. Raymond James upped their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. 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 report on Friday, January 10th. Morgan Stanley boosted their price objective 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. Scotiabank reduced their target price 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. Finally, Barclays lowered their target price on shares of Plains All American Pipeline from $19.00 to $18.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. One 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 company has a consensus rating of "Hold" and a consensus price target of $20.36.

Plains All American Pipeline Stock Down 0.3 %

Shares of PAA traded down $0.05 during mid-day trading on Friday, hitting $18.15. The company's stock had a trading volume of 1,217,792 shares, compared to its average volume of 3,045,170. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company's 50-day moving average is $18.99 and its 200-day moving average is $18.44. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-week high of $21.00. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 24.86 and a beta of 1.17.

Plains All American Pipeline Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.38%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 208.22%.

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.