Plains All American Pipeline, L.P. (NYSE:PAA) Position Boosted by Fmr LLC

FMR LLC lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 91.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 600,282 shares of the pipeline company's stock after buying an additional 286,222 shares during the period. FMR LLC owned approximately 0.09% of Plains All American Pipeline worth $10,427,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Citigroup Inc. grew its position in Plains All American Pipeline by 48.9% during the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company's stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Plains All American Pipeline by 114.9% in the 2nd 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. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company's stock worth $7,813,000 after purchasing an additional 317,927 shares during the period. ING Groep NV grew its holdings in shares of Plains All American Pipeline by 29.1% during the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company's stock worth $22,962,000 after purchasing an additional 297,937 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $4,597,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on PAA shares. Bank of America assumed 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 price target on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Morgan Stanley downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.82.

Plains All American Pipeline Stock Up 0.9 %

Plains All American Pipeline stock traded up $0.16 during midday trading on Thursday, hitting $18.05. 2,056,355 shares of the stock were exchanged, compared to its average volume of 2,792,279. Plains All American Pipeline, L.P. has a 1 year low of $14.46 and a 1 year high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market cap of $12.70 billion, a P/E ratio of 16.06 and a beta of 1.64. The company has a 50 day moving average price of $17.47 and a two-hundred day moving average price of $17.60.

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

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline's dividend payout ratio (DPR) is currently 113.39%.

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.