Advisors Asset Management Inc. Increases Holdings in Plains All American Pipeline, L.P. $PAA

Advisors Asset Management Inc. lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,590 shares of the pipeline company’s stock after purchasing an additional 46,406 shares during the period. Advisors Asset Management Inc.’s holdings in Plains All American Pipeline were worth $5,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Apollon Wealth Management LLC increased its holdings in Plains All American Pipeline by 0.8% during the second quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock worth $1,475,000 after buying an additional 628 shares during the last quarter. HB Wealth Management LLC boosted its stake in Plains All American Pipeline by 5.2% in the second quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company’s stock valued at $279,000 after acquiring an additional 748 shares during the last quarter. Blue Trust Inc. grew its position in shares of 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 valued at $32,000 after acquiring an additional 761 shares during the period. Clarus Group Inc. increased its stake in shares of Plains All American Pipeline by 0.9% during the 2nd quarter. Clarus Group Inc. now owns 93,131 shares of the pipeline company’s stock worth $1,706,000 after purchasing an additional 801 shares during the last quarter. Finally, AE Wealth Management LLC raised its holdings in shares of Plains All American Pipeline by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 13,219 shares of the pipeline company’s stock worth $242,000 after purchasing an additional 858 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Down 0.4%

Shares of Plains All American Pipeline stock opened at $17.34 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. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.00. The firm has a market cap of $12.23 billion, a PE ratio of 23.75 and a beta of 0.74. The company has a 50 day simple moving average of $16.75 and a two-hundred day simple moving average of $17.43.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. 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 business posted $0.37 EPS. The firm’s revenue was down 7.0% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.8%. Plains All American Pipeline’s payout ratio is 125.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank reduced their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. JPMorgan Chase & Co. decreased their price objective on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the company a “neutral” rating in a research note on Friday, August 8th. Barclays dropped their price objective on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 7th. Finally, Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.55.

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.