Symphony Financial Services Inc. Purchases New Position in Plains All American Pipeline, L.P. $PAA

Symphony Financial Services Inc. purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 51,781 shares of the pipeline company’s stock, valued at approximately $883,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in shares of Plains All American Pipeline by 10.1% in the 2nd quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company’s stock valued at $597,282,000 after purchasing an additional 3,003,351 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Plains All American Pipeline by 2.2% during the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock valued at $1,297,700,000 after purchasing an additional 1,663,908 shares during the last quarter. BROOKFIELD Corp ON lifted its holdings in Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock valued at $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock valued at $122,814,000 after buying an additional 967,059 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Plains All American Pipeline by 415.3% during the second quarter. Jump Financial LLC now owns 520,594 shares of the pipeline company’s stock worth $9,537,000 after buying an additional 419,571 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Trading Up 0.2%

PAA stock opened at $21.39 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.58. The company has a market cap of $15.09 billion, a P/E ratio of 29.30 and a beta of 0.58. The business has a fifty day moving average of $19.37 and a 200-day moving average of $17.91.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results 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%. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.8%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, January 30th. Plains All American Pipeline’s payout ratio is presently 100.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of 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. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Barclays boosted their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. Mizuho set a $23.00 target price on Plains All American Pipeline in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada lifted their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.18.

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.