Private Advisor Group LLC Grows Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Private Advisor Group LLC boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 57.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,703 shares of the pipeline company's stock after purchasing an additional 61,858 shares during the period. Private Advisor Group LLC's holdings in Plains All American Pipeline were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in shares of Plains All American Pipeline by 69.4% during the first quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company's stock worth $32,044,000 after acquiring an additional 747,852 shares during the period. Sei Investments Co. purchased a new position in shares of Plains All American Pipeline during the first quarter worth approximately $2,608,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Plains All American Pipeline during the first quarter worth approximately $3,227,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Plains All American Pipeline during the first quarter worth approximately $1,944,000. Finally, Acadian Asset Management LLC increased its position in shares of Plains All American Pipeline by 358.1% during the first quarter. Acadian Asset Management LLC now owns 888,139 shares of the pipeline company's stock worth $15,591,000 after acquiring an additional 694,279 shares during the period. Institutional investors own 41.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PAA shares. Bank of America started coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a "neutral" rating and a $18.00 target price on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Wednesday, September 4th. Morgan Stanley lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $22.00 to $19.00 in a report on Friday. Finally, UBS Group lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of "Hold" and an average price target of $19.82.

Plains All American Pipeline Stock Down 0.1 %

PAA traded down $0.01 during trading on Tuesday, hitting $16.75. The stock had a trading volume of 3,241,392 shares, compared to its average volume of 2,679,283. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The stock has a 50 day simple moving average of $17.51 and a two-hundred day simple moving average of $17.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. The company has a market capitalization of $11.74 billion, a PE ratio of 15.23 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.31 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.58%. Plains All American Pipeline's payout ratio is currently 115.45%.

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.