Plains All American Pipeline, L.P. $PAA Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,375 shares of the pipeline company’s stock after buying an additional 5,326 shares during the quarter. ProShare Advisors LLC’s holdings in Plains All American Pipeline were worth $666,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Plains All American Pipeline by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 147,907 shares of the pipeline company’s stock valued at $2,958,000 after purchasing an additional 14,956 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Plains All American Pipeline by 21.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 349,280 shares of the pipeline company’s stock valued at $6,986,000 after purchasing an additional 62,221 shares during the last quarter. CWM LLC grew its stake in shares of Plains All American Pipeline by 32.3% in the 1st quarter. CWM LLC now owns 8,558 shares of the pipeline company’s stock valued at $171,000 after buying an additional 2,090 shares during the period. Private Advisor Group LLC increased its holdings in shares of Plains All American Pipeline by 2.3% during the 1st quarter. Private Advisor Group LLC now owns 171,807 shares of the pipeline company’s stock worth $3,436,000 after buying an additional 3,872 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at approximately $252,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PAA. Barclays lowered their price objective on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley lowered their price target on Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Raymond James Financial restated a “strong-buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. Zacks Research raised shares of Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. Finally, 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 report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.45.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $16.90 on Wednesday. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 23.15 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The business has a 50-day moving average of $16.78 and a 200 day moving average of $17.41. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Plains All American Pipeline’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. As a group, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 9.0%. Plains All American Pipeline’s payout ratio is 125.62%.

About Plains All American Pipeline

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.