CreativeOne Wealth LLC Purchases New Position in Plains All American Pipeline, L.P. (NYSE:PAA)

CreativeOne Wealth LLC bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,132 shares of the pipeline company’s stock, valued at approximately $193,000.

A number of other hedge funds also recently bought and sold shares of the stock. ORG Partners LLC lifted its holdings in Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after buying an additional 730 shares during the period. Axiom Advisory LLC lifted its holdings in Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after buying an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings 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 worth $109,000 after buying an additional 856 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after buying an additional 887 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after buying an additional 927 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $18.57 on Wednesday. Plains All American Pipeline, L.P. has a one year low of $14.46 and a one year high of $19.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 16.58 and a beta of 1.64. The firm’s fifty day moving average is $17.41 and its two-hundred day moving average is $17.57.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Research analysts expect that Plains All American Pipeline, L.P. will post 1.27 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s payout ratio is currently 113.39%.

Analyst Ratings Changes

A number of research firms have weighed in on PAA. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Bank of America started 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, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Company Profile

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.