Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,386 shares of the pipeline company’s stock after acquiring an additional 5,828 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Plains All American Pipeline were worth $3,640,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. ORG Partners LLC grew its holdings in Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares during the period. Axiom Advisory LLC grew its stake in Plains All American Pipeline by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 856 shares in the last quarter. Private Advisor Group LLC increased its holdings in Plains All American Pipeline by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after acquiring an additional 927 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in Plains All American Pipeline by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after acquiring an additional 1,047 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $16.39 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The stock has a market cap of $11.49 billion, a P/E ratio of 14.90 and a beta of 1.61. The company has a 50-day moving average price of $17.44 and a 200 day moving average price of $17.58. Plains All American Pipeline, L.P. has a 12-month low of $14.46 and a 12-month high of $19.17.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.31 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.75%. Plains All American Pipeline’s dividend payout ratio is currently 115.45%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PAA. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.82.

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.