Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 970.6% during the third quarter, Holdings Channel.com reports. The fund owned 179,847 shares of the pipeline company’s stock after purchasing an additional 163,049 shares during the period. Cerity Partners LLC’s holdings in Plains All American Pipeline were worth $3,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the 3rd quarter valued at $28,000. ORG Partners LLC grew its holdings in Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 730 shares during the period. Sunbelt Securities Inc. raised its position in Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 1,318 shares in the last quarter. American National Bank lifted its holdings in 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 valued at $78,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 3.2 %

NYSE:PAA opened at $18.67 on Friday. The business’s fifty day moving average price is $17.39 and its 200 day moving average price is $17.55. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 16.67 and a beta of 1.61. 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 1-year low of $14.46 and a 1-year high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company 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 quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company 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 6.80%. Plains All American Pipeline’s payout ratio is 113.39%.

Analyst Ratings Changes

Several analysts recently commented on PAA shares. Bank of America initiated coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Company 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.