Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by ING Groep NV

ING Groep NV lifted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 29.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,321,937 shares of the pipeline company’s stock after purchasing an additional 297,937 shares during the period. ING Groep NV owned about 0.19% of Plains All American Pipeline worth $22,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in Plains All American Pipeline by 114.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after buying an additional 1,020,277 shares in the last quarter. Blackstone Inc. lifted its stake in shares of Plains All American Pipeline by 1.4% in the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock worth $413,345,000 after acquiring an additional 318,944 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Plains All American Pipeline by 241.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock valued at $7,813,000 after purchasing an additional 317,927 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Plains All American Pipeline during the 3rd quarter valued at approximately $4,597,000. Finally, Cetera Investment Advisers purchased a new stake in Plains All American Pipeline during the 1st quarter worth approximately $2,763,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAA has been the subject of a number of recent analyst reports. Bank of America began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Stock Up 1.1 %

Shares of Plains All American Pipeline stock opened at $17.14 on Friday. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 11.23 and a beta of 1.61. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The business’s 50 day simple moving average is $17.35 and its 200-day simple moving average is $17.53.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.29 earnings per share 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. Shareholders of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.41%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 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.