Fortem Financial Group LLC Has $1.13 Million Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Fortem Financial Group LLC lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 4.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,278 shares of the pipeline company’s stock after acquiring an additional 2,772 shares during the period. Fortem Financial Group LLC’s holdings in Plains All American Pipeline were worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares in the last quarter. Citigroup Inc. increased its position in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after buying an additional 1,125,386 shares in the last quarter. Acadian Asset Management LLC raised its stake in Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after buying an additional 1,020,277 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Plains All American Pipeline in the third quarter worth approximately $11,634,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew 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 during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA traded up $0.08 during midday trading on Monday, reaching $17.46. The company’s stock had a trading volume of 2,435,498 shares, compared to its average volume of 4,251,533. The stock has a market capitalization of $12.29 billion, a P/E ratio of 15.59 and a beta of 1.64. 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 50 day moving average price of $17.40 and a 200-day moving average price of $17.65. Plains All American Pipeline, L.P. has a 12-month low of $15.02 and a 12-month high of $19.17.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $13.09 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PAA has been the topic of a number of research reports. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced 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 report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline currently has a consensus rating of “Hold” and an average price target of $19.82.

About Plains All American Pipeline

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.