Exchange Traded Concepts LLC Increases Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

by · The Cerbat Gem

Exchange Traded Concepts LLC increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA – Free Report) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552,006 shares of the pipeline company’s stock after acquiring an additional 13,633 shares during the quarter. Exchange Traded Concepts LLC owned about 0.08% of Plains All American Pipeline worth $9,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Chickasaw Capital Management LLC lifted its stake in Plains All American Pipeline by 1.0% in the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after acquiring an additional 42,383 shares during the period. Valeo Financial Advisors LLC purchased a new position in Plains All American Pipeline during the third quarter valued at $283,000. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline during the third quarter valued at $28,000. Axiom Advisory LLC lifted its position in Plains All American Pipeline by 5.2% during the third 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. Finally, Walnut Private Equity Partners LLC lifted its position in Plains All American Pipeline by 3.7% during the third quarter. Walnut Private Equity Partners LLC now owns 425,000 shares of the pipeline company’s stock valued at $7,624,000 after buying an additional 15,000 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PAA shares. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.10.

Check Out Our Latest Analysis on PAA

Plains All American Pipeline Price Performance

PAA opened at $17.69 on Monday. The stock has a 50-day moving average price of $17.56 and a 200-day moving average price of $17.67. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market cap of $12.40 billion, a PE ratio of 15.25 and a beta of 1.60. Plains All American Pipeline, L.P. has a 1 year low of $14.46 and a 1 year high of $19.17.

Plains All American Pipeline (NYSE:PAA – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same period last year, the company earned $0.25 EPS. Plains All American Pipeline’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.18%. Plains All American Pipeline’s payout ratio is 109.48%.

About Plains All American Pipeline

(Free Report)

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.

See Also

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