Stifel Financial Corp grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 30.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 230,729 shares of the pipeline company's stock after purchasing an additional 54,111 shares during the quarter. Stifel Financial Corp's holdings in Plains All American Pipeline were worth $4,008,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PAA. ORG Partners LLC grew its stake in shares of Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company's stock worth $30,000 after purchasing an additional 730 shares during the last quarter. Brookstone Capital Management bought a new stake in Plains All American Pipeline in the second quarter valued at $239,000. Prossimo Advisors LLC purchased a new position in Plains All American Pipeline during the 2nd quarter valued at $207,000. American National Bank lifted its position in shares of Plains All American Pipeline by 249.2% in the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company's stock worth $78,000 after purchasing an additional 3,110 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in Plains All American Pipeline by 1.0% in the second quarter. Hennessy Advisors Inc. now owns 420,626 shares of the pipeline company's stock worth $7,512,000 after buying an additional 4,200 shares during the period. Hedge funds and other institutional investors own 41.78% of the company's stock.
Plains All American Pipeline Stock Down 1.7 %
PAA stock traded down $0.31 during midday trading on Monday, hitting $17.55. The company's stock had a trading volume of 2,022,803 shares, compared to its average volume of 2,805,039. The firm's 50-day moving average is $17.48 and its 200-day moving average is $17.62. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12 month low of $14.87 and a 12 month high of $19.17. The company has a market cap of $12.35 billion, a PE ratio of 15.68 and a beta of 1.64.
Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share 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 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%. Plains All American Pipeline's revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 EPS. On average, equities research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.24%. Plains All American Pipeline's dividend payout ratio (DPR) is 113.39%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on PAA shares. 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, November 15th. Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a "neutral" rating and a $18.00 target price on the stock. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.82.
Check Out Our Latest Stock Analysis on Plains All American Pipeline
Plains All American Pipeline Profile
(
Free Report)
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.
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