Private Advisor Group LLC Purchases 61,858 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Private Advisor Group LLC grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 57.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,703 shares of the pipeline company’s stock after purchasing an additional 61,858 shares during the quarter. Private Advisor Group LLC’s holdings in Plains All American Pipeline were worth $2,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC purchased a new stake in Plains All American Pipeline during the first quarter valued at approximately $26,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline in the 3rd quarter worth $28,000. ORG Partners LLC lifted its position in Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares in the last quarter. Evermay Wealth Management LLC bought a new stake in Plains All American Pipeline during the first quarter valued at about $35,000. Finally, Sunbelt Securities Inc. increased its position in 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 buying an additional 1,318 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

PAA has been the subject of a number of recent analyst reports. 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 Wednesday, September 4th. UBS Group raised their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Friday. One 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $16.76 on Tuesday. The firm has a market capitalization of $11.75 billion, a PE ratio of 15.24 and a beta of 1.60. Plains All American Pipeline, L.P. has a 12-month low of $14.46 and a 12-month high of $19.17. The firm has a 50-day moving average price of $17.53 and a 200-day moving average price of $17.60. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The business had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.31 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.3175 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.58%. Plains All American Pipeline’s payout ratio is 115.45%.

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.