Syntax Research Inc. Acquires New Shares in Plains All American Pipeline, L.P. (NYSE:PAA)

Syntax Research Inc. acquired a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 100,316 shares of the pipeline company’s stock, valued at approximately $1,742,000.

A number of other large investors have also recently added to or reduced their stakes in PAA. Tidal Investments LLC grew its holdings in Plains All American Pipeline by 6.0% in the 3rd quarter. Tidal Investments LLC now owns 24,815 shares of the pipeline company’s stock valued at $431,000 after buying an additional 1,400 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at about $27,000. Sanctuary Advisors LLC boosted its holdings in Plains All American Pipeline by 15.1% during the third quarter. Sanctuary Advisors LLC now owns 55,494 shares of the pipeline company’s stock valued at $996,000 after purchasing an additional 7,265 shares in the last quarter. Geode Capital Management LLC boosted its stake in Plains All American Pipeline by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 595,776 shares of the pipeline company’s stock valued at $10,349,000 after buying an additional 1,989 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Plains All American Pipeline by 1.6% in the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after purchasing an additional 32,061 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Finally, Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Trading Down 0.6 %

Plains All American Pipeline stock opened at $17.44 on Wednesday. The stock has a 50-day simple moving average of $17.48 and a 200 day simple moving average of $17.63. The stock has a market capitalization of $12.27 billion, a P/E ratio of 15.57 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a 52 week low of $14.87 and a 52 week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share 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 business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Analysts expect that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is presently 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.