Inspire Investing LLC Invests $832,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Inspire Investing LLC purchased a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 48,710 shares of the pipeline company's stock, valued at approximately $832,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Plains All American Pipeline by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company's stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Plains All American Pipeline by 1.0% in the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company's stock valued at $71,913,000 after purchasing an additional 42,383 shares during the period. Citigroup Inc. lifted its holdings in shares of Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company's stock worth $59,560,000 after buying an additional 1,125,386 shares during the period. Barclays PLC grew its holdings in Plains All American Pipeline by 1.6% during the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company's stock worth $34,885,000 after acquiring an additional 32,061 shares in the last quarter. Finally, ING Groep NV increased its holdings in Plains All American Pipeline by 29.1% during the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company's stock valued at $22,962,000 after buying an additional 297,937 shares during the period. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock traded down $0.18 during mid-day trading on Friday, reaching $20.39. 2,626,278 shares of the stock traded hands, compared to its average volume of 3,521,319. The stock has a market capitalization of $14.35 billion, a PE ratio of 18.21 and a beta of 1.64. The business has a 50-day moving average of $18.15 and a 200 day moving average of $17.80. Plains All American Pipeline, L.P. has a fifty-two week low of $15.02 and a fifty-two week high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.09 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that Plains All American Pipeline, L.P. will post 1.17 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, January 31st. 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 yield of 7.45%. Plains All American Pipeline's payout ratio is presently 113.39%.

Analyst Ratings Changes

Several research firms have issued reports on PAA. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Barclays increased their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. Scotiabank restated a "sector outperform" rating and set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 10th. Morgan Stanley downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.92.

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.