Syntax Research Inc. Takes $1.74 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Syntax Research Inc. purchased a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,316 shares of the pipeline company's stock, valued at approximately $1,742,000.

Other institutional investors have also made changes to their positions in the company. Axiom Advisory LLC grew its stake in Plains All American Pipeline by 5.2% in the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company's stock valued at $274,000 after purchasing an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company's stock valued at $109,000 after acquiring an additional 856 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Plains All American Pipeline by 5.1% in the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company's stock valued at $315,000 after acquiring an additional 887 shares during the last quarter. Private Advisor Group LLC grew its position in Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company's stock worth $1,908,000 after acquiring an additional 927 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in shares of Plains All American Pipeline by 0.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company's stock worth $4,580,000 after purchasing an additional 1,047 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $22.00 to $20.00 in a report on Wednesday. Morgan Stanley lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Bank of America initiated coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $19.82.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock traded down $0.47 during mid-day trading on Wednesday, reaching $16.97. 4,519,558 shares of the stock were exchanged, compared to its average volume of 2,832,104. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 15.15 and a beta of 1.64. The firm has a 50-day simple moving average of $17.48 and a 200 day simple moving average of $17.63. 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 fifty-two week low of $14.91 and a fifty-two week high of $19.17.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results 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 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%. Plains All American Pipeline's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. On average, sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS 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. Shareholders of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.48%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline's payout ratio is presently 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.