Lakeview Capital Partners LLC Grows Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

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Lakeview Capital Partners LLC boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 20.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,454 shares of the pipeline company’s stock after acquiring an additional 2,100 shares during the period. Lakeview Capital Partners LLC’s holdings in Plains All American Pipeline were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Atwater Malick LLC purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at $25,000. Garrett Wealth Advisory Group LLC acquired a new stake in Plains All American Pipeline during the third quarter worth about $26,000. Paragon Capital Management LLC raised its stake in Plains All American Pipeline by 136.0% during the second quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 816 shares during the period. Lenox Wealth Advisors LLC acquired a new stake in Plains All American Pipeline during the third quarter worth about $32,000. Finally, MCF Advisors LLC acquired a new stake in Plains All American Pipeline during the second quarter worth about $40,000. 50.46% of the stock is owned by hedge funds and other institutional investors.

PAA stock traded down $0.16 on Friday, hitting $18.19. 2,920,500 shares of the company’s stock traded hands, compared to its average volume of 2,354,946. Plains All American Pipeline, L.P. has a 1-year low of $17.78 and a 1-year high of $25.27. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 9.68 and a beta of 1.01. The stock has a fifty day moving average of $19.62 and a 200-day moving average of $22.33. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Tuesday, November 5th. The pipeline company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.39 by $0.13. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.31%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 2.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.92%. The ex-dividend date of this dividend is Wednesday, October 30th. Plains All American Pipeline’s dividend payout ratio is presently 76.60%.

Several research firms recently weighed in on PAA. Barclays reiterated a “hold” rating and set a $24.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday, October 16th. Piper Jaffray Companies assumed coverage on shares of Plains All American Pipeline in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $31.00 target price for the company. Raymond James decreased their price objective on shares of Plains All American Pipeline from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 23rd. TheStreet cut shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a report on Tuesday, October 8th. Finally, Bank of America decreased their price objective on shares of Plains All American Pipeline from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.73.

In related news, VP Chris Herbold sold 23,337 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total transaction of $498,945.06. Following the completion of the sale, the vice president now directly owns 79,564 shares of the company’s stock, valued at $1,701,078.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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

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