D.A. Davidson & CO. Increases Stake in Plains All American Pipeline, L.P. $PAA

D.A. Davidson & CO. increased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,433 shares of the pipeline company’s stock after buying an additional 3,182 shares during the period. D.A. Davidson & CO.’s holdings in Plains All American Pipeline were worth $539,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Plains All American Pipeline by 76.1% during the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after buying an additional 761 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $40,000. Atwood & Palmer Inc. purchased a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $42,000. North Capital Inc. purchased a new stake in Plains All American Pipeline during the 1st quarter worth approximately $61,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $58,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wolfe Research reissued a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Morgan Stanley dropped their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock 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. Zacks Research raised shares of Plains All American Pipeline to a “hold” rating in a research report on Monday, August 11th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.55.

Plains All American Pipeline Trading Up 0.2%

NYSE PAA opened at $16.90 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The firm’s fifty day moving average price is $17.04 and its 200 day moving average price is $17.50. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 23.15 and a beta of 0.72. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating 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%. Plains All American Pipeline’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. On average, sell-side 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 9.0%. Plains All American Pipeline’s dividend payout ratio is currently 172.73%.

Plains All American Pipeline Company 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.