Crescent Grove Advisors LLC Buys 2,719 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Crescent Grove Advisors LLC grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,944 shares of the pipeline company’s stock after acquiring an additional 2,719 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $3,021,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Plains All American Pipeline by 8.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 90,900 shares of the pipeline company’s stock worth $1,579,000 after acquiring an additional 6,921 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Plains All American Pipeline by 2.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 213,386 shares of the pipeline company’s stock worth $3,640,000 after purchasing an additional 5,828 shares in the last quarter. Americana Partners LLC raised its stake in shares of Plains All American Pipeline by 17.5% in the third quarter. Americana Partners LLC now owns 264,586 shares of the pipeline company’s stock worth $4,596,000 after purchasing an additional 39,333 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Plains All American Pipeline by 2.2% during the third quarter. US Bancorp DE now owns 125,389 shares of the pipeline company’s stock valued at $2,178,000 after purchasing an additional 2,658 shares in the last quarter. Finally, Bank of Stockton purchased a new stake in shares of Plains All American Pipeline during the third quarter valued at $229,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.3 %

NYSE:PAA opened at $16.92 on Wednesday. Plains All American Pipeline, L.P. has a one year low of $14.46 and a one year high of $19.17. The business has a fifty day moving average price of $17.40 and a 200-day moving average price of $17.56. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 15.38 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.51%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 115.45%.

Analyst Ratings Changes

A number of brokerages have weighed in on PAA. 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. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America initiated 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 objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.