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

Advisors Asset Management Inc. boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 20.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 388,825 shares of the pipeline company’s stock after purchasing an additional 65,235 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.06% of Plains All American Pipeline worth $6,633,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PAA. Alps Advisors Inc. raised its stake in Plains All American Pipeline by 2.2% in the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock valued at $1,297,700,000 after buying an additional 1,663,908 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Plains All American Pipeline by 10.1% in the second quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company’s stock worth $597,282,000 after buying an additional 3,003,351 shares during the last quarter. BROOKFIELD Corp ON boosted its position in Plains All American Pipeline by 18.9% in the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock worth $124,112,000 after purchasing an additional 1,076,291 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline by 2.4% during the second quarter. JPMorgan Chase & Co. now owns 6,231,899 shares of the pipeline company’s stock worth $114,168,000 after buying an additional 146,105 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its position in shares of Plains All American Pipeline by 6.2% during the 3rd quarter. Eagle Global Advisors LLC now owns 4,117,370 shares of the pipeline company’s stock valued at $70,242,000 after acquiring an additional 240,714 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $19.78 on Friday. 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 business’s 50-day moving average price is $18.58 and its 200 day moving average price is $17.66. Plains All American Pipeline, L.P. has a 52-week low of $15.57 and a 52-week high of $20.77. The firm has a market cap of $13.95 billion, a P/E ratio of 27.10 and a beta of 0.60.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm earned $0.42 earnings per share. The company’s revenue was down 12.2% on a year-over-year basis. On average, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a dividend of $0.4175 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Friday, January 30th. Plains All American Pipeline’s dividend payout ratio is currently 100.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PAA shares. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a report on Monday. Raymond James Financial reiterated a “strong-buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Barclays lifted their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday. Wells Fargo & Company upped their price target 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. Finally, Citigroup increased their price objective on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.09.

Plains All American Pipeline 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.