Oxbow Advisors LLC Sells 2,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Oxbow Advisors LLC lessened its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,932 shares of the pipeline company’s stock after selling 2,000 shares during the quarter. Oxbow Advisors LLC’s holdings in Plains All American Pipeline were worth $1,946,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 2,677,951 shares during the last quarter. ING Groep NV boosted its stake in shares of Plains All American Pipeline by 194.5% in the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock valued at $66,486,000 after purchasing an additional 2,570,700 shares during the last quarter. Citigroup Inc. boosted its stake 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 purchasing an additional 1,125,386 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in shares of Plains All American Pipeline by 1.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock valued at $44,594,000 after acquiring an additional 38,062 shares during the period. Finally, Barclays PLC raised its position in shares of Plains All American Pipeline by 1.6% in the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after acquiring an additional 32,061 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $20.48 on Friday. 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, L.P. has a 52 week low of $16.18 and a 52 week high of $21.00. The company has a market capitalization of $14.41 billion, a P/E ratio of 28.05 and a beta of 1.65. The company’s 50 day moving average price is $18.94 and its two-hundred day moving average price is $18.01.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.42%. Plains All American Pipeline’s dividend payout ratio (DPR) is 208.22%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PAA shares. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Barclays increased their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Raymond James increased 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 research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.21.

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.