Tidal Investments LLC Increases Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Tidal Investments LLC increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,815 shares of the pipeline company’s stock after buying an additional 1,400 shares during the period. Tidal Investments LLC’s holdings in Plains All American Pipeline were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of Plains All American Pipeline by 30.6% during the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after acquiring an additional 54,111 shares in the last quarter. FMR LLC boosted its position in Plains All American Pipeline by 91.1% during the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after purchasing an additional 286,222 shares in the last quarter. International Assets Investment Management LLC grew its holdings in 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 valued at $1,164,000 after purchasing an additional 60,979 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Plains All American Pipeline by 0.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after buying an additional 57,289 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Plains All American Pipeline by 57.9% during the 3rd quarter. Private Advisor Group LLC now owns 168,703 shares of the pipeline company’s stock worth $2,930,000 after buying an additional 61,858 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PAA. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. 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 research report on Friday, November 15th. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. Finally, Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Trading Down 0.2 %

Shares of PAA opened at $16.91 on Tuesday. Plains All American Pipeline, L.P. has a fifty-two week low of $15.02 and a fifty-two week high of $19.17. The company has a market capitalization of $11.90 billion, a PE ratio of 15.10 and a beta of 1.64. The stock has a fifty day moving average of $17.44 and a two-hundred day moving average of $17.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $13.09 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.51%. Plains All American Pipeline’s payout ratio is currently 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.