International Assets Investment Management LLC Raises Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

International Assets Investment Management LLC lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1,006.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 67,038 shares of the pipeline company’s stock after purchasing an additional 60,979 shares during the quarter. International Assets Investment Management LLC’s holdings in Plains All American Pipeline were worth $1,164,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. U.S. Capital Wealth Advisors LLC raised its position in shares of Plains All American Pipeline by 0.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after acquiring an additional 1,047 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Plains All American Pipeline by 57.9% during the 3rd quarter. Private Advisor Group LLC now owns 168,703 shares of the pipeline company’s stock valued at $2,930,000 after acquiring an additional 61,858 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew 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 worth $7,813,000 after buying an additional 317,927 shares during the last quarter. Wealth Alliance Advisory Group LLC grew its stake in Plains All American Pipeline by 1.4% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 89,153 shares of the pipeline company’s stock worth $1,549,000 after buying an additional 1,226 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Plains All American Pipeline by 97.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 30,234 shares of the pipeline company’s stock worth $525,000 after buying an additional 14,930 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $16.71 on Tuesday. The company has a market capitalization of $11.72 billion, a PE ratio of 15.19 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The company has a 50 day simple moving average of $17.42 and a two-hundred day simple moving average of $17.57.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. Research analysts anticipate that Plains All American Pipeline, L.P. will post 1.31 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 115.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PAA. 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 note on Wednesday, September 4th. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.82.

About Plains All American Pipeline

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.