JPMorgan Chase & Co. Purchases 967,059 Shares of Plains All American Pipeline, L.P. $PAA

JPMorgan Chase & Co. raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 15.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,198,958 shares of the pipeline company’s stock after acquiring an additional 967,059 shares during the quarter. JPMorgan Chase & Co. owned about 1.02% of Plains All American Pipeline worth $122,814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC raised its stake in Plains All American Pipeline by 1.5% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the pipeline company’s stock worth $698,000 after purchasing an additional 601 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Plains All American Pipeline by 6.9% in the second quarter. AE Wealth Management LLC now owns 13,219 shares of the pipeline company’s stock valued at $242,000 after buying an additional 858 shares during the period. Sippican Capital Advisors grew its position in Plains All American Pipeline by 2.8% during the third quarter. Sippican Capital Advisors now owns 32,025 shares of the pipeline company’s stock worth $546,000 after buying an additional 865 shares in the last quarter. Americana Partners LLC increased its stake in Plains All American Pipeline by 0.4% during the 3rd quarter. Americana Partners LLC now owns 274,294 shares of the pipeline company’s stock worth $4,679,000 after acquiring an additional 987 shares during the period. Finally, Chancellor Financial Group WB LP raised its holdings in Plains All American Pipeline by 9.1% in the 2nd quarter. Chancellor Financial Group WB LP now owns 11,957 shares of the pipeline company’s stock valued at $219,000 after acquiring an additional 1,000 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PAA. Wells Fargo & Company raised their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Wednesday, January 28th. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 23rd. Finally, Citigroup increased their price target on Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.18.

Plains All American Pipeline Trading Up 0.9%

NYSE:PAA opened at $20.89 on Monday. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 28.62 and a beta of 0.60. The firm has a fifty day simple moving average of $18.92 and a two-hundred day simple moving average of $17.75. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $20.93.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, February 6th. The pipeline company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. Analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.4175 dividend. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, January 30th. This represents a $1.67 annualized dividend and a yield of 8.0%. Plains All American Pipeline’s dividend payout ratio (DPR) is 100.60%.

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.