Arkadios Wealth Advisors lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA – Free Report) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,089 shares of the pipeline company’s stock after purchasing an additional 1,376 shares during the period. Arkadios Wealth Advisors’ holdings in Plains All American Pipeline were worth $429,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Westmount Partners LLC purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at about $177,000. Adams Asset Advisors LLC grew its stake in shares of Plains All American Pipeline by 0.6% in the 4th quarter. Adams Asset Advisors LLC now owns 767,558 shares of the pipeline company’s stock valued at $13,110,000 after buying an additional 4,617 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Plains All American Pipeline by 28.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,232 shares of the pipeline company’s stock worth $699,000 after buying an additional 8,932 shares during the last quarter. Fortem Financial Group LLC raised its position in shares of Plains All American Pipeline by 4.4% during the 4th quarter. Fortem Financial Group LLC now owns 66,278 shares of the pipeline company’s stock valued at $1,132,000 after buying an additional 2,772 shares during the period. Finally, CWA Asset Management Group LLC lifted its holdings in Plains All American Pipeline by 0.8% in the fourth quarter. CWA Asset Management Group LLC now owns 266,756 shares of the pipeline company’s stock valued at $4,556,000 after acquiring an additional 2,109 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PAA has been the subject of several recent analyst reports. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Barclays boosted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Scotiabank reissued a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered shares of 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 $20.00 in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.92.
Plains All American Pipeline Trading Up 0.1 %
NYSE:PAA opened at $20.59 on Thursday. Plains All American Pipeline, L.P. has a 12-month low of $15.02 and a 12-month high of $21.00. The firm has a market cap of $14.49 billion, a PE ratio of 18.38 and a beta of 1.64. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $17.94 and a 200 day moving average price of $17.75.
Plains All American Pipeline (NYSE:PAA – Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the company earned $0.35 EPS. Plains All American Pipeline’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current fiscal year.
Plains All American Pipeline Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.38%. The ex-dividend date is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is 113.39%.
About Plains All American Pipeline
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.
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