Magnus Financial Group LLC Takes Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Magnus Financial Group LLC purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,889 shares of the pipeline company’s stock, valued at approximately $207,000.

Several other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC raised 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 purchasing an additional 730 shares in the last quarter. Axiom Advisory LLC raised its holdings in Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares in the last quarter. Private Advisor Group LLC raised its holdings in Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after purchasing an additional 927 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Plains All American Pipeline by 31.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,060 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAA has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Wednesday, September 4th. UBS Group increased their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline currently has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Plains All American Pipeline Stock Up 0.5 %

PAA stock opened at $17.47 on Thursday. The company’s 50 day simple moving average is $17.57 and its 200-day simple moving average is $17.67. The firm has a market capitalization of $12.25 billion, a PE ratio of 15.06 and a beta of 1.60. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $12.93 billion for the quarter, compared to analyst estimates of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 earnings per share. Equities analysts expect that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.27%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 109.48%.

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.