Larson Financial Group LLC Boosts Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Larson Financial Group LLC increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 400.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,500 shares of the pipeline company’s stock after purchasing an additional 10,000 shares during the period. Larson Financial Group LLC’s holdings in Plains All American Pipeline were worth $217,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline in the 3rd quarter worth approximately $28,000. ORG Partners LLC lifted its holdings in Plains All American Pipeline by 78.5% in the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings 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. American National Bank lifted its holdings in Plains All American Pipeline by 249.2% in the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 3,110 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of 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 acquiring an additional 1,060 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $18.09 on Thursday. The business’s 50 day moving average price is $17.37 and its 200-day moving average price is $17.54. The company has a market cap of $12.73 billion, a P/E ratio of 16.15 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PAA. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline 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.