Manning & Napier Advisors LLC Takes $1.71 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Manning & Napier Advisors LLC bought a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 100,000 shares of the pipeline company’s stock, valued at approximately $1,708,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stifel Financial Corp raised its holdings in shares of Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after purchasing an additional 54,111 shares during the period. FMR LLC grew its stake in Plains All American Pipeline by 91.1% in the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after buying an additional 286,222 shares during the last quarter. Syntax Research Inc. acquired a new position in Plains All American Pipeline in the 3rd quarter valued at about $1,742,000. PFG Investments LLC grew its stake in Plains All American Pipeline by 47.0% in the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after buying an additional 14,432 shares during the last quarter. Finally, International Assets Investment Management LLC grew 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 buying an additional 60,979 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PAA. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Raymond James upped their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $20.96 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 18.71 and a beta of 1.64. The firm’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $17.84. Plains All American Pipeline, L.P. has a 1 year low of $15.02 and a 1 year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate 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 revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, research analysts expect 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 business 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. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.25%. Plains All American Pipeline’s dividend payout ratio is presently 113.39%.

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.