Cornerstone Wealth Management LLC Has $525,000 Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Cornerstone Wealth Management LLC increased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 97.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,234 shares of the pipeline company’s stock after buying an additional 14,930 shares during the period. Cornerstone Wealth Management LLC’s holdings in Plains All American Pipeline were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Magnus Financial Group LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at $207,000. Exchange Traded Concepts LLC increased its holdings in shares of Plains All American Pipeline by 2.5% in the third quarter. Exchange Traded Concepts LLC now owns 552,006 shares of the pipeline company’s stock valued at $9,588,000 after purchasing an additional 13,633 shares during the last quarter. Chickasaw Capital Management LLC increased its holdings in shares of Plains All American Pipeline by 1.0% in the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock valued at $71,913,000 after purchasing an additional 42,383 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at $283,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at $28,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PAA shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Wednesday, September 4th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research report on Thursday. They issued a “neutral” rating and a $18.00 target price for the company. Finally, UBS Group boosted 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 research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.91.

Plains All American Pipeline Trading Down 0.5 %

PAA opened at $17.27 on Friday. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The company has a 50-day simple moving average of $17.57 and a 200 day simple moving average of $17.67. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 15.70 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. Plains All American Pipeline’s revenue was up 11.5% compared to the same quarter last year. Analysts predict that Plains All American Pipeline, L.P. will post 1.3 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.35%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 115.45%.

Plains All American Pipeline 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.