Stifel Financial Corp Buys 54,111 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Stifel Financial Corp grew its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 30.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors and hedge funds have also recently modified their holdings of PAA. Tortoise Capital Advisors L.L.C. raised its stake 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 worth $336,734,000 after buying an additional 57,289 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Plains All American Pipeline by 1.0% during the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after acquiring an additional 42,383 shares during the period. Citigroup Inc. raised its position in shares of Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after acquiring an additional 1,125,386 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of Plains All American Pipeline by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock valued at $45,520,000 after purchasing an additional 48,799 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Plains All American Pipeline by 114.9% during the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after purchasing an additional 1,020,277 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Down 1.1 %

Shares of Plains All American Pipeline stock opened at $17.86 on Monday. The company has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $17.62. Plains All American Pipeline, L.P. has a 52-week low of $14.81 and a 52-week high of $19.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market capitalization of $12.57 billion, a PE ratio of 11.83 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data 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. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm 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 of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.11%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 113.39%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Bank of America began 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 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.