Stablepoint Partners LLC Purchases 3,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Stablepoint Partners LLC grew its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,125 shares of the pipeline company’s stock after acquiring an additional 3,000 shares during the period. Stablepoint Partners LLC’s holdings in Plains All American Pipeline were worth $327,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PAA. Stifel Financial Corp grew its holdings in Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after purchasing an additional 54,111 shares during the period. FMR LLC boosted its stake in shares of Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after acquiring an additional 286,222 shares during the period. Syntax Research Inc. acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $1,742,000. International Assets Investment Management LLC raised its stake in Plains All American Pipeline by 1,006.4% in the 3rd quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock valued at $1,164,000 after acquiring an additional 60,979 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Scotiabank restated a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.92.

Plains All American Pipeline Price Performance

PAA stock opened at $20.39 on Monday. The company’s 50-day moving average price is $18.15 and its two-hundred day moving average price is $17.80. The firm has a market cap of $14.35 billion, a P/E ratio of 13.64 and a beta of 1.64. 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 12 month low of $15.02 and a 12 month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. On average, analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.45%. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

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.