Bank of Stockton Makes New Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Bank of Stockton purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,163 shares of the pipeline company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently made changes to their positions in PAA. ORG Partners LLC raised its stake 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 valued at $30,000 after acquiring an additional 730 shares in the last quarter. Axiom Advisory LLC raised its position in Plains All American Pipeline by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 856 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Plains All American Pipeline by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after buying an additional 927 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its position in shares of Plains All American Pipeline by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after buying an additional 1,047 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America initiated coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. UBS Group lifted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Friday. Finally, Royal Bank of Canada reaffirmed 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Trading Down 0.4 %

Shares of PAA stock traded down $0.06 during trading hours on Friday, hitting $17.04. 666,370 shares of the company were exchanged, compared to its average volume of 2,668,021. The firm has a fifty day moving average of $17.57 and a 200 day moving average of $17.64. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 1 year low of $14.46 and a 1 year high of $19.17. The firm has a market cap of $11.95 billion, a PE ratio of 15.55 and a beta of 1.60.

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

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s payout ratio is 115.45%.

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.