Kovitz Investment Group Partners LLC Makes New Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Kovitz Investment Group Partners LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 669,771 shares of the pipeline company’s stock, valued at approximately $11,634,000. Kovitz Investment Group Partners LLC owned 0.10% of Plains All American Pipeline as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter worth $28,000. ORG Partners LLC increased its position in shares of 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 acquiring an additional 730 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 1,318 shares in the last quarter. American National Bank boosted its holdings in Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after purchasing an additional 3,110 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in 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 valued at $80,000 after purchasing an additional 1,060 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PAA shares. Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Morgan Stanley lowered shares of 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, Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Stock Down 1.4 %

Shares of Plains All American Pipeline stock opened at $18.18 on Friday. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 12.03 and a beta of 1.64. 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 0.92 and a debt-to-equity ratio of 0.64. The business’s 50 day simple moving average is $17.43 and its 200-day simple moving average is $17.58.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share 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 firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period last year, the firm posted $0.35 EPS. Plains All American Pipeline’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.99%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s payout ratio is currently 113.39%.

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.