Archer Investment Corp Takes Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Archer Investment Corp purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAAFree Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,000 shares of the pipeline company’s stock, valued at approximately $123,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in Plains All American Pipeline during the 1st quarter worth approximately $28,000. Fifth Third Bancorp increased its stake in Plains All American Pipeline by 49.9% during the 2nd quarter. Fifth Third Bancorp now owns 2,376 shares of the pipeline company’s stock worth $34,000 after buying an additional 791 shares during the period. CENTRAL TRUST Co increased its stake in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares during the period. International Assets Investment Management LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $57,000. Finally, Briaud Financial Planning Inc purchased a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $58,000. 41.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAA has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of Plains All American Pipeline from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Royal Bank of Canada increased their price objective on shares of Plains All American Pipeline from $15.00 to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, November 16th. StockNews.com raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Finally, TD Securities increased their price objective on shares of Plains All American Pipeline from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $17.04.

Get Our Latest Analysis on PAA

Plains All American Pipeline Trading Down 0.7 %

Shares of Plains All American Pipeline stock opened at $15.16 on Monday. The company has a fifty day simple moving average of $15.40 and a 200-day simple moving average of $15.28. Plains All American Pipeline, L.P. has a 12-month low of $11.28 and a 12-month high of $16.36. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.65. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 11.40 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAAGet Free Report) last issued its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $12.07 billion during the quarter, compared to analysts’ expectations of $15.42 billion. Plains All American Pipeline had a net margin of 2.28% and a return on equity of 9.96%. On average, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.18 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.27 dividend on an annualized basis and a yield of 8.38%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.27. Plains All American Pipeline’s dividend payout ratio is currently 94.78%.

Insider Buying and Selling

In related news, EVP Jeremy L. Goebel sold 35,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $15.58, for a total transaction of $545,300.00. Following the completion of the sale, the executive vice president now owns 279,223 shares in the company, valued at approximately $4,350,294.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by company insiders.

Plains All American Pipeline Company Profile

(Free Report)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

Further Reading

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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