Symphony Financial Services Inc. Takes Position in Plains All American Pipeline, L.P. $PAA

Symphony Financial Services Inc. acquired a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,781 shares of the pipeline company’s stock, valued at approximately $883,000.

Several other large investors have also modified their holdings of the company. Alps Advisors Inc. raised its holdings in Plains All American Pipeline by 2.2% in the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock worth $1,297,700,000 after acquiring an additional 1,663,908 shares during the period. Invesco Ltd. grew its position in shares of Plains All American Pipeline by 10.1% in the second quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company’s stock valued at $597,282,000 after purchasing an additional 3,003,351 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock worth $122,814,000 after purchasing an additional 967,059 shares during the period. BROOKFIELD Corp ON lifted its position in shares of Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its stake in Plains All American Pipeline by 6.2% during the 3rd quarter. Eagle Global Advisors LLC now owns 4,117,370 shares of the pipeline company’s stock valued at $70,242,000 after purchasing an additional 240,714 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Up 0.2%

Shares of PAA stock opened at $21.39 on Wednesday. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.58. 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 stock has a fifty day moving average price of $19.37 and a 200 day moving average price of $17.91. The stock has a market cap of $15.09 billion, a P/E ratio of 29.30 and a beta of 0.58.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. Analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a dividend of $0.4175 per share. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio is 100.60%.

Analysts Set New Price Targets

PAA has been the topic of several recent analyst reports. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Royal Bank Of Canada raised their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 23rd. Finally, Bank of America downgraded shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $21.18.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.