Larson Financial Group LLC Grows Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Larson Financial Group LLC boosted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 400.0% in the third quarter, HoldingsChannel reports. The fund owned 12,500 shares of the pipeline company’s stock after purchasing an additional 10,000 shares during the quarter. Larson Financial Group LLC’s holdings in Plains All American Pipeline were worth $217,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PAA. Citigroup Inc. boosted its stake in Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after acquiring an additional 1,125,386 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Plains All American Pipeline by 114.9% in the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after acquiring an additional 1,020,277 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake 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 acquiring an additional 317,927 shares in the last quarter. ING Groep NV boosted its stake in Plains All American Pipeline by 29.1% in the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after acquiring an additional 297,937 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Plains All American Pipeline in the third quarter valued at approximately $4,597,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 2.4 %

Shares of Plains All American Pipeline stock opened at $18.09 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a fifty day moving average price of $17.37 and a 200 day moving average price of $17.54. Plains All American Pipeline, L.P. has a 1 year low of $14.46 and a 1 year high of $19.17. The stock has a market cap of $12.73 billion, a PE ratio of 16.15 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the previous 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 predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.02%. Plains All American Pipeline’s payout ratio is 113.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PAA shares. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Bank of America assumed coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target for the company. One research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.