Plains All American Pipeline, L.P. (NYSE:PAA) Shares Purchased by ING Groep NV

ING Groep NV grew its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,321,937 shares of the pipeline company's stock after buying an additional 297,937 shares during the quarter. ING Groep NV owned 0.19% of Plains All American Pipeline worth $22,962,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of Plains All American Pipeline in the first quarter worth about $2,608,000. International Assets Investment Management LLC raised its holdings in Plains All American Pipeline by 1,006.4% in the 3rd 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 during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in Plains All American Pipeline during the first quarter worth approximately $1,944,000. Acadian Asset Management LLC boosted its position in 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 purchasing an additional 694,279 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in 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. Hedge funds and other institutional investors own 41.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price on the stock. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.82.

Plains All American Pipeline Price Performance

PAA traded up $0.04 during trading on Friday, reaching $17.18. The company's stock had a trading volume of 3,249,696 shares, compared to its average volume of 2,771,987. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 15.34 and a beta of 1.61. The firm has a fifty day simple moving average of $17.34 and a two-hundred day simple moving average of $17.53. 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 quick ratio of 0.90, 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 announced its quarterly earnings data 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 firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm's revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. As a group, analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.39%. Plains All American Pipeline's payout ratio is 113.39%.

About Plains All American Pipeline

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.