Plains All American Pipeline, L.P. (NYSE:PAA) Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 5.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,146 shares of the pipeline company’s stock after acquiring an additional 887 shares during the period. Thrivent Financial for Lutherans’ holdings in Plains All American Pipeline were worth $315,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PAA. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the third quarter valued at $28,000. ORG Partners LLC lifted its position in shares of Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares in the last quarter. American National Bank boosted its holdings in shares of Plains All American Pipeline by 249.2% during the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 3,110 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in Plains All American Pipeline by 31.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

PAA has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Stock Up 1.5 %

PAA stock opened at $18.44 on Friday. 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 company has a 50-day moving average of $17.43 and a two-hundred day moving average of $17.58. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 16.46 and a beta of 1.64. Plains All American Pipeline, L.P. has a 52-week low of $14.46 and a 52-week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) 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 firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.89%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s payout ratio is currently 113.39%.

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.