Creative Planning Decreases Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Creative Planning reduced its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,461 shares of the pipeline company’s stock after selling 7,975 shares during the period. Creative Planning’s holdings in Plains All American Pipeline were worth $1,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PAA. Blackstone Inc. grew its position in shares of 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 worth $413,345,000 after acquiring an additional 318,944 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Plains All American Pipeline by 0.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Plains All American Pipeline by 1.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after acquiring an additional 42,383 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in Plains All American Pipeline by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock worth $45,520,000 after purchasing an additional 48,799 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after buying an additional 1,020,277 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Down 3.0 %

Shares of NYSE:PAA opened at $16.27 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The firm has a market cap of $11.41 billion, a P/E ratio of 14.79 and a beta of 1.60. The company’s 50-day moving average price is $17.47 and its two-hundred day moving average price is $17.58. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The firm 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 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts forecast that Plains All American Pipeline, L.P. will post 1.31 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.81%. Plains All American Pipeline’s dividend payout ratio is 115.45%.

Analysts Set New Price Targets

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

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.