JPMorgan Chase & Co. Grows Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 58.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,221,571 shares of the pipeline company's stock after purchasing an additional 2,677,951 shares during the period. JPMorgan Chase & Co. owned about 1.03% of Plains All American Pipeline worth $125,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PAA. Stifel Financial Corp raised its holdings in shares of Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company's stock worth $4,008,000 after purchasing an additional 54,111 shares during the period. FMR LLC lifted its holdings in Plains All American Pipeline by 91.1% during the third quarter. FMR LLC now owns 600,282 shares of the pipeline company's stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. Syntax Research Inc. purchased a new position in shares of Plains All American Pipeline in the third quarter worth about $1,742,000. International Assets Investment Management LLC increased its stake in shares of Plains All American Pipeline by 1,006.4% in the third quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company's stock worth $1,164,000 after purchasing an additional 60,979 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in shares of Plains All American Pipeline by 0.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company's stock valued at $336,734,000 after purchasing an additional 57,289 shares during the period. Institutional investors own 41.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PAA. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 price objective for the company. 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 report on Friday, November 15th. Morgan Stanley cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of "Hold" and an average target price of $19.82.

Plains All American Pipeline Price Performance

Shares of NYSE PAA traded up $0.24 during midday trading on Thursday, hitting $17.32. 5,851,988 shares of the company's stock were exchanged, compared to its average volume of 2,848,284. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The business's fifty day moving average price is $17.39 and its two-hundred day moving average price is $17.63. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 15.46 and a beta of 1.64. Plains All American Pipeline, L.P. has a 12-month low of $15.02 and a 12-month high of $19.17.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, research analysts forecast that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

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.