Sanctuary Advisors LLC Grows Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Sanctuary Advisors LLC boosted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,854 shares of the pipeline company’s stock after purchasing an additional 9,360 shares during the period. Sanctuary Advisors LLC’s holdings in Plains All American Pipeline were worth $1,108,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PAA. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 2,677,951 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at $11,634,000. ING Groep NV boosted its holdings in shares of Plains All American Pipeline by 29.1% in the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after acquiring an additional 297,937 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Plains All American Pipeline by 91.1% in the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after acquiring an additional 286,222 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on PAA shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Barclays increased their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Scotiabank reissued a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Finally, Wolfe Research raised shares of 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $20.11 on Thursday. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 27.55 and a beta of 1.65. Plains All American Pipeline, L.P. has a 52 week low of $16.21 and a 52 week high of $21.00. The firm has a 50-day simple moving average of $19.17 and a 200-day simple moving average of $18.10. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.38 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.56%. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s 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.