Plains All American Pipeline, L.P. (NYSE:PAA) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 8.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 90,900 shares of the pipeline company’s stock after purchasing an additional 6,921 shares during the period. Janney Montgomery Scott LLC’s holdings in Plains All American Pipeline were worth $1,579,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in shares of Plains All American Pipeline by 114.9% in the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after buying an additional 1,020,277 shares during the last quarter. Blackstone Inc. increased its position in Plains All American Pipeline by 1.4% in the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after acquiring an additional 318,944 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock valued at $7,813,000 after acquiring an additional 317,927 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Plains All American Pipeline during the 1st quarter worth approximately $2,763,000. Finally, Sei Investments Co. purchased a new position in shares of Plains All American Pipeline in the 1st quarter valued at approximately $2,608,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

PAA opened at $17.14 on Friday. Plains All American Pipeline, L.P. has a 1-year low of $14.46 and a 1-year high of $19.17. The stock has a market cap of $12.02 billion, a P/E ratio of 15.13 and a beta of 1.61. The stock’s 50 day simple moving average is $17.35 and its 200 day simple moving average is $17.53. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.90.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.41%. Plains All American Pipeline’s dividend payout ratio is presently 113.39%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PAA shares. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Finally, Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.82.

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.