Corient Private Wealth LLC Increases Position in Plains All American Pipeline, L.P. $PAA

Corient Private Wealth LLC raised its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 90.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 460,633 shares of the pipeline company’s stock after acquiring an additional 218,607 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Plains All American Pipeline worth $8,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. grew its position 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 in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Plains All American Pipeline during the second quarter worth $40,000. Atwood & Palmer Inc. purchased a new stake in Plains All American Pipeline in the 2nd quarter valued at $42,000. Ameritas Advisory Services LLC acquired a new stake in shares of Plains All American Pipeline in the 2nd quarter worth $58,000. Finally, Hilltop National Bank purchased a new position in shares of Plains All American Pipeline during the 2nd quarter worth $60,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Scotiabank dropped their price target on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. JPMorgan Chase & Co. cut their price target 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. Barclays decreased their price objective on 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, Raymond James Financial reiterated 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 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 assigned a Sell rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average price target of $20.60.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $17.55 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $12.38 billion, a P/E ratio of 24.04 and a beta of 0.59. The firm’s 50 day moving average price is $16.96 and its 200-day moving average price is $17.50. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period last year, the business earned $0.37 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Friday, October 31st. Plains All American Pipeline’s payout ratio is currently 125.62%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.