Aviance Capital Partners LLC Sells 100,389 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Aviance Capital Partners LLC trimmed its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 76.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,126 shares of the pipeline company’s stock after selling 100,389 shares during the quarter. Aviance Capital Partners LLC’s holdings in Plains All American Pipeline were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Plains All American Pipeline by 58.9% in the third 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. ING Groep NV boosted its stake in Plains All American Pipeline by 194.5% in the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock valued at $66,486,000 after acquiring an additional 2,570,700 shares during the last quarter. Citigroup Inc. boosted its stake in Plains All American Pipeline by 48.9% in the third 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. Miller Howard Investments Inc. NY boosted its stake in Plains All American Pipeline by 1.5% in the fourth 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 last quarter. Finally, Barclays PLC boosted its stake in Plains All American Pipeline by 1.6% in the third 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 last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $19.35 on Friday. Plains All American Pipeline, L.P. has a 1 year low of $16.21 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $13.62 billion, a PE ratio of 26.51 and a beta of 1.62. The company’s 50 day simple moving average is $19.53 and its two-hundred day simple moving average is $18.20.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. The ex-dividend date was Friday, January 31st. 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 yield of 7.86%. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PAA shares. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. Barclays upped 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 note on Thursday, January 16th. Wolfe Research upgraded 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 research note on Friday, January 10th. Finally, 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 research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus target price of $20.14.

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.