Plains All American Pipeline, L.P. (NYSE:PAA) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 572.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,972 shares of the pipeline company’s stock after acquiring an additional 25,512 shares during the period. Brown Brothers Harriman & Co.’s holdings in Plains All American Pipeline were worth $521,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PAA. ORG Partners LLC raised its stake in shares of Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares in the last quarter. Axiom Advisory LLC increased its stake in Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after buying an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after buying an additional 856 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 887 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after acquiring an additional 927 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PAA. Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Finally, Morgan Stanley lowered 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 investment 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Stock Up 0.6 %

Shares of Plains All American Pipeline stock opened at $17.67 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12-month low of $14.46 and a 12-month high of $19.17. The firm has a market capitalization of $12.43 billion, a PE ratio of 11.64 and a beta of 1.61. The stock’s fifty day moving average is $17.36 and its 200-day moving average is $17.54.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities analysts anticipate 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 given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.19%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s payout ratio is 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.