Ameritas Advisory Services LLC Acquires New Position in Plains All American Pipeline, L.P. $PAA

Ameritas Advisory Services LLC bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 2nd quarter, Holdings Channel reports. The firm bought 3,139 shares of the pipeline company’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BROOKFIELD Corp ON boosted its stake in shares of Plains All American Pipeline by 50.2% during the 1st quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company’s stock worth $113,967,000 after acquiring an additional 1,904,261 shares in the last quarter. Invesco Ltd. boosted its position in Plains All American Pipeline by 6.4% during the first quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock worth $591,988,000 after purchasing an additional 1,771,452 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Plains All American Pipeline by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock valued at $422,894,000 after purchasing an additional 1,524,185 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Plains All American Pipeline by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock valued at $329,279,000 after buying an additional 1,166,369 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Plains All American Pipeline by 32.0% during the 1st quarter. BNP Paribas Financial Markets now owns 2,659,047 shares of the pipeline company’s stock worth $53,181,000 after buying an additional 645,001 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Down 2.0%

Shares of Plains All American Pipeline stock opened at $15.85 on Monday. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The business’s fifty day moving average is $17.38 and its two-hundred day moving average is $17.64. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a market cap of $11.15 billion, a PE ratio of 21.71 and a beta of 0.72.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period last year, the company earned $0.31 earnings per share. Plains All American Pipeline’s revenue was down 16.6% on a year-over-year basis. Analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 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 Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 9.6%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 172.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays lowered their price objective on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. UBS Group set a $25.00 price target on shares of Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, July 15th. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the stock a “neutral” rating in a research report on Friday, August 8th. Morgan Stanley reduced their target price on Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. dropped their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus price target of $20.50.

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.