HB Wealth Management LLC Increases Holdings in Plains All American Pipeline, L.P. $PAA

HB Wealth Management LLC raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,247 shares of the pipeline company’s stock after acquiring an additional 748 shares during the quarter. HB Wealth Management LLC’s holdings in Plains All American Pipeline were worth $279,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PAA. BROOKFIELD Corp ON boosted its stake in shares of Plains All American Pipeline by 50.2% during the first quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company’s stock worth $113,967,000 after buying an additional 1,904,261 shares during the period. Invesco Ltd. boosted its stake in shares of Plains All American Pipeline by 6.4% during the first quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock worth $591,988,000 after buying an additional 1,771,452 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Plains All American Pipeline by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock worth $422,894,000 after buying an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Plains All American Pipeline by 7.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock worth $329,279,000 after buying an additional 1,166,369 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Plains All American Pipeline by 32.0% during the first quarter. BNP Paribas Financial Markets now owns 2,659,047 shares of the pipeline company’s stock worth $53,181,000 after buying an additional 645,001 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $16.71 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 22.89 and a beta of 0.72. The firm’s fifty day simple moving average is $17.55 and its 200 day simple moving average is $17.75. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period last year, the company posted $0.31 EPS. Plains All American Pipeline’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.52 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 Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Friday, October 31st. Plains All American Pipeline’s payout ratio is presently 172.73%.

Analyst Ratings Changes

A number of brokerages recently commented on PAA. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. Morgan Stanley reduced their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a research report on Friday, August 8th. Wolfe Research restated a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Finally, UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.58.

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.