64,746 Shares in Plains All American Pipeline, L.P. $PAA Bought by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 64,746 shares of the pipeline company’s stock, valued at approximately $1,186,000.

A number of other hedge funds have also recently bought and sold shares of PAA. Blue Trust Inc. raised its holdings in shares of Plains All American Pipeline by 76.1% in the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 761 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in Plains All American Pipeline in the 2nd quarter valued at about $40,000. Atwood & Palmer Inc. bought a new position in shares of Plains All American Pipeline during the 2nd quarter worth approximately $42,000. Ameritas Advisory Services LLC bought a new position in shares of Plains All American Pipeline during the 2nd quarter worth approximately $58,000. Finally, National Bank of Canada FI boosted its stake in shares of Plains All American Pipeline by 99.4% in the 1st quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company’s stock worth $64,000 after buying an additional 1,600 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Scotiabank dropped their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Morgan Stanley increased their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Zacks Research raised Plains All American Pipeline to a “hold” rating in a report on Monday, August 11th. Raymond James Financial restated a “strong-buy” rating and set a $22.00 price target (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and an average target price of $20.55.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $17.73 on Friday. The business’s fifty day moving average is $16.77 and its 200 day moving average is $17.44. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 24.29 and a beta of 0.59. 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 announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.39 EPS for the quarter, beating 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%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. Research analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date was Friday, October 31st. Plains All American Pipeline’s dividend payout ratio is 125.62%.

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.