JPMorgan Chase & Co. Boosts Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

JPMorgan Chase & Co. boosted its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 58.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,221,571 shares of the pipeline company’s stock after acquiring an additional 2,677,951 shares during the period. JPMorgan Chase & Co. owned about 1.03% of Plains All American Pipeline worth $125,439,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Syntax Research Inc. acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at about $1,742,000. Tidal Investments LLC increased its position in Plains All American Pipeline by 6.0% in the 3rd quarter. Tidal Investments LLC now owns 24,815 shares of the pipeline company’s stock valued at $431,000 after acquiring an additional 1,400 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at approximately $27,000. Sanctuary Advisors LLC lifted its position in Plains All American Pipeline by 15.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 55,494 shares of the pipeline company’s stock worth $996,000 after acquiring an additional 7,265 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Plains All American Pipeline by 0.3% in the third quarter. Geode Capital Management LLC now owns 595,776 shares of the pipeline company’s stock valued at $10,349,000 after purchasing an additional 1,989 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.5 %

NYSE:PAA opened at $17.08 on Thursday. The business’s 50-day moving average is $17.39 and its two-hundred day moving average is $17.63. The firm has a market capitalization of $12.02 billion, a PE ratio of 15.25 and a beta of 1.64. Plains All American Pipeline, L.P. has a 12 month low of $15.02 and a 12 month high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. Plains All American Pipeline’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Research analysts predict that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PAA. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus 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.