Sanctuary Advisors LLC Purchases 7,265 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Sanctuary Advisors LLC grew its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,494 shares of the pipeline company’s stock after purchasing an additional 7,265 shares during the period. Sanctuary Advisors LLC’s holdings in Plains All American Pipeline were worth $996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. grew 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 valued at $68,000 after purchasing an additional 1,318 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Plains All American Pipeline by 31.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after buying an additional 1,060 shares during the last quarter. Rothschild Investment LLC bought a new stake in Plains All American Pipeline during the 2nd quarter worth about $98,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Plains All American Pipeline during the 2nd quarter worth about $108,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Down 0.2 %

Plains All American Pipeline stock opened at $16.94 on Friday. The company’s 50-day moving average price is $17.44 and its two-hundred day moving average price is $17.63. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock has a market cap of $11.92 billion, a P/E ratio of 15.13 and a beta of 1.64. Plains All American Pipeline, L.P. has a twelve month low of $15.02 and a twelve month high of $19.17.

Plains All American Pipeline (NYSE:PAA) last announced 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 company 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%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. As a group, analysts expect that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.50%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 113.39%.

Wall Street Analyst Weigh In

PAA has been the topic of a number of recent research reports. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research report on Wednesday. Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.