100,000 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 100,000 shares of the pipeline company's stock, valued at approximately $1,708,000.

Several other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Plains All American Pipeline during the 3rd quarter valued at approximately $27,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline during the third quarter worth $28,000. Sunbelt Securities Inc. lifted its holdings 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 buying an additional 1,318 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company's stock valued at $109,000 after acquiring an additional 856 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in Plains All American Pipeline by 100.0% during the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company's stock worth $139,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PAA shares. Raymond James boosted their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 28th. Scotiabank reaffirmed a "sector outperform" rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Morgan Stanley cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Bank of America assumed coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price for the company. Finally, Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.21.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA traded up $0.09 during mid-day trading on Monday, reaching $19.89. The company had a trading volume of 3,250,198 shares, compared to its average volume of 4,879,130. The company's 50-day moving average price is $18.42 and its 200-day moving average price is $17.85. Plains All American Pipeline, L.P. has a one year low of $15.02 and a one year high of $21.00. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 17.73 and a beta of 1.65. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly 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 analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.38 dividend. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date is Friday, January 31st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 135.71%.

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.