48,710 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Purchased by Inspire Investing LLC

Inspire Investing LLC bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 48,710 shares of the pipeline company’s stock, valued at approximately $832,000.

Other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after purchasing an additional 54,111 shares in the last quarter. FMR LLC grew its holdings in Plains All American Pipeline by 91.1% during 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 in the last quarter. Syntax Research Inc. purchased a new position in Plains All American Pipeline during the 3rd quarter valued at approximately $1,742,000. International Assets Investment Management LLC grew its holdings in Plains All American Pipeline by 1,006.4% during 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after buying an additional 2,677,951 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $20.39 on Friday. Plains All American Pipeline, L.P. has a 52-week low of $15.02 and a 52-week high of $21.00. 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 capitalization of $14.35 billion, a P/E ratio of 18.21 and a beta of 1.64. The stock has a 50 day moving average price of $18.08 and a 200 day moving average price of $17.79.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the company earned $0.35 EPS. Plains All American Pipeline’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.38 per share. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 113.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PAA shares. Scotiabank restated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Barclays raised their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Bank of America initiated coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and an average price target of $19.92.

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.