Citizens Financial Group Inc. RI Takes $186,000 Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Citizens Financial Group Inc. RI purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,700 shares of the pipeline company’s stock, valued at approximately $186,000.

Other large investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline in the third quarter valued at approximately $28,000. ORG Partners LLC lifted 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 acquiring an additional 730 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Plains All American Pipeline by 53.2% during the 2nd 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. American National Bank boosted its holdings in shares of Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after buying an additional 3,110 shares during the period. Finally, Brown Brothers Harriman & Co. boosted 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 worth $80,000 after purchasing an additional 1,060 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PAA shares. Bank of America assumed coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.94 on Monday. The stock has a market capitalization of $12.62 billion, a PE ratio of 16.02 and a beta of 1.61. The business has a fifty day moving average price of $17.37 and a two-hundred day moving average price of $17.54. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, equities analysts predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.08%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s payout ratio is 113.39%.

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.