International Assets Investment Management LLC Raises Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

International Assets Investment Management LLC increased its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1,006.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,038 shares of the pipeline company's stock after buying an additional 60,979 shares during the period. International Assets Investment Management LLC's holdings in Plains All American Pipeline were worth $1,164,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in shares of Plains All American Pipeline by 114.9% in the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company's stock valued at $34,081,000 after purchasing an additional 1,020,277 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of Plains All American Pipeline by 1.4% during the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company's stock worth $413,345,000 after acquiring an additional 318,944 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Plains All American Pipeline by 241.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company's stock valued at $7,813,000 after purchasing an additional 317,927 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Plains All American Pipeline during the 1st quarter worth about $4,420,000. Finally, Cetera Investment Advisers bought a new stake in shares of Plains All American Pipeline during the first quarter worth about $2,763,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Stock Up 1.3 %

Shares of PAA traded up $0.21 on Tuesday, reaching $16.92. The stock had a trading volume of 4,346,528 shares, compared to its average volume of 2,706,938. 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 firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 15.38 and a beta of 1.61. The company has a 50-day simple moving average of $17.40 and a 200-day simple moving average of $17.56. Plains All American Pipeline, L.P. has a 12-month low of $14.46 and a 12-month high of $19.17.

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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.31 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline's dividend payout ratio (DPR) is 115.45%.

Wall Street Analysts Forecast Growth

PAA has been the topic of several research analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Wednesday, September 4th. Morgan Stanley downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America began coverage on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $19.82.

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.