Creative Planning Sells 7,975 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Creative Planning lessened its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,461 shares of the pipeline company’s stock after selling 7,975 shares during the quarter. Creative Planning’s holdings in Plains All American Pipeline were worth $1,120,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PAA. Eagle Bay Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $28,000. ORG Partners LLC increased its position in shares of Plains All American Pipeline by 78.5% during the 2nd 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. Evermay Wealth Management LLC bought a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $35,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after buying an additional 1,318 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $16.27 on Friday. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 14.79 and a beta of 1.60. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17. The stock’s 50 day moving average is $17.47 and its 200-day moving average is $17.58.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $12.32 billion. During the same period in the prior year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts expect that Plains All American Pipeline, L.P. will post 1.31 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is 115.45%.

Analysts Set New Price Targets

PAA has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Bank of America started coverage on 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. Finally, Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.82.

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.