Stephens Inc. AR Increases Stake in Plains All American Pipeline, L.P. $PAA

Stephens Inc. AR lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 19.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 111,785 shares of the pipeline company’s stock after acquiring an additional 18,247 shares during the period. Stephens Inc. AR’s holdings in Plains All American Pipeline were worth $2,048,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Plains All American Pipeline by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company’s stock valued at $879,000 after buying an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Plains All American Pipeline by 5.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company’s stock valued at $1,127,000 after buying an additional 2,891 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Plains All American Pipeline by 32.1% in the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company’s stock valued at $566,000 after buying an additional 6,874 shares during the period. Adams Asset Advisors LLC raised its holdings in Plains All American Pipeline by 3.2% in the second quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock valued at $14,435,000 after buying an additional 24,750 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in Plains All American Pipeline in the first quarter valued at approximately $218,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAA has been the topic of several research reports. UBS Group set a $25.00 price target on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Tuesday, July 15th. Morgan Stanley lowered their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Zacks Research raised shares of Plains All American Pipeline to a “hold” rating in a research report on Monday, August 11th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Plains All American Pipeline in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $20.73.

Plains All American Pipeline Trading Up 0.2%

Shares of NYSE PAA opened at $16.51 on Thursday. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 22.62 and a beta of 0.72. The business has a 50 day simple moving average of $17.11 and a 200 day simple moving average of $17.48. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Friday, October 31st. Plains All American Pipeline’s dividend payout ratio is 172.73%.

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.