Plains All American Pipeline, L.P. (NYSE:PAA) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 90,900 shares of the pipeline company’s stock after purchasing an additional 6,921 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Plains All American Pipeline were worth $1,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAA. Chicago Partners Investment Group LLC grew its position in shares of Plains All American Pipeline by 2.8% in the third quarter. Chicago Partners Investment Group LLC now owns 213,386 shares of the pipeline company’s stock valued at $3,640,000 after purchasing an additional 5,828 shares during the period. Americana Partners LLC increased its stake in shares of Plains All American Pipeline by 17.5% during the 3rd quarter. Americana Partners LLC now owns 264,586 shares of the pipeline company’s stock valued at $4,596,000 after acquiring an additional 39,333 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Plains All American Pipeline by 2.2% during the 3rd quarter. US Bancorp DE now owns 125,389 shares of the pipeline company’s stock worth $2,178,000 after acquiring an additional 2,658 shares during the period. Bank of Stockton acquired a new stake in shares of Plains All American Pipeline in the third quarter worth approximately $229,000. Finally, International Assets Investment Management LLC boosted its position in shares of Plains All American Pipeline by 1,006.4% in the third quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock worth $1,164,000 after acquiring an additional 60,979 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $17.14 on Friday. The firm has a 50-day moving average of $17.35 and a two-hundred day moving average of $17.53. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.90. The stock has a market cap of $12.02 billion, a P/E ratio of 15.13 and a beta of 1.61. Plains All American Pipeline, L.P. has a 1-year low of $14.46 and a 1-year high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 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 firm had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. Plains All American Pipeline’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts expect that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 7.41%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 113.39%.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Wednesday, September 4th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America began coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.82.

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.