Adams Asset Advisors LLC Acquires 4,617 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Adams Asset Advisors LLC lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 767,558 shares of the pipeline company’s stock after buying an additional 4,617 shares during the period. Plains All American Pipeline makes up about 1.7% of Adams Asset Advisors LLC’s holdings, making the stock its 11th largest holding. Adams Asset Advisors LLC’s holdings in Plains All American Pipeline were worth $13,110,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PAA. Wilmington Savings Fund Society FSB acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $27,000. Future Financial Wealth Managment LLC bought a new stake in Plains All American Pipeline during the third quarter worth $28,000. Sunbelt Securities Inc. lifted its stake 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 valued at $68,000 after acquiring an additional 1,318 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Plains All American Pipeline by 31.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PAA shares. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Bank of America assumed coverage on shares of 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. Scotiabank restated a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday. Finally, 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 note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.00.

Plains All American Pipeline Stock Up 0.4 %

Shares of NYSE PAA traded up $0.07 during midday trading on Monday, hitting $18.95. 1,658,669 shares of the stock traded hands, compared to its average volume of 4,669,091. Plains All American Pipeline, L.P. has a one year low of $15.02 and a one year high of $19.31. The business has a 50 day moving average price of $17.58 and a two-hundred day moving average price of $17.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market cap of $13.33 billion, a PE ratio of 16.92 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio (DPR) is 135.71%.

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.