Plains All American Pipeline, L.P. $PAA Stock Position Lifted by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 26.5% during the second quarter, Holdings Channel.com reports. The firm owned 14,300 shares of the pipeline company’s stock after acquiring an additional 3,000 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Plains All American Pipeline were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Adams Asset Advisors LLC increased its position in shares of Plains All American Pipeline by 3.2% during the 2nd quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock valued at $14,435,000 after purchasing an additional 24,750 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Plains All American Pipeline by 3.3% during the second quarter. Janney Montgomery Scott LLC now owns 105,263 shares of the pipeline company’s stock valued at $1,928,000 after acquiring an additional 3,400 shares during the period. Stephens Inc. AR boosted its stake in Plains All American Pipeline by 19.5% in the 2nd quarter. Stephens Inc. AR now owns 111,785 shares of the pipeline company’s stock worth $2,048,000 after purchasing an additional 18,247 shares during the period. IronOak Wealth LLC. purchased a new position in Plains All American Pipeline during the 2nd quarter worth approximately $310,000. Finally, Maryland State Retirement & Pension System raised its stake in Plains All American Pipeline by 6.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 418,310 shares of the pipeline company’s stock valued at $7,663,000 after purchasing an additional 24,447 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 0.5%

Shares of NYSE PAA opened at $16.85 on Tuesday. The business has a 50 day simple moving average of $16.79 and a 200 day simple moving average of $17.40. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 23.08 and a beta of 0.74. 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 (NYSE:PAA) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $0.38 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 9.0%. Plains All American Pipeline’s dividend payout ratio is currently 125.62%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 18th. Morgan Stanley lowered their target price on Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Wolfe Research reissued a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a research report on Friday, August 8th. Finally, Barclays dropped their price objective on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.45.

Plains All American Pipeline Company 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.