Plains All American Pipeline, L.P. (NYSE:PAA) Shares Acquired by Adams Asset Advisors LLC

Adams Asset Advisors LLC raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 767,558 shares of the pipeline company’s stock after buying an additional 4,617 shares during the period. Plains All American Pipeline comprises approximately 1.7% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Adams Asset Advisors LLC owned approximately 0.11% of Plains All American Pipeline worth $13,110,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Plains All American Pipeline in the 3rd quarter worth $27,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $28,000. Sunbelt Securities Inc. increased its stake in Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after buying an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 0.4 %

PAA stock traded up $0.07 during midday trading on Monday, reaching $18.95. The company’s stock had a trading volume of 1,658,669 shares, compared to its average volume of 4,669,091. The business’s 50-day simple moving average is $17.58 and its 200-day simple moving average is $17.68. 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 52 week low of $15.02 and a 52 week high of $19.31. The stock has a market cap of $13.33 billion, a PE ratio of 16.92 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. Plains All American Pipeline’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.24 EPS 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 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.02%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is 135.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PAA shares. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Scotiabank reissued a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.00.

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.