Wealth Enhancement Advisory Services LLC Boosts Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Wealth Enhancement Advisory Services LLC raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 28.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,232 shares of the pipeline company’s stock after purchasing an additional 8,932 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Plains All American Pipeline were worth $699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $27,000. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline in the third quarter valued at $28,000. Sunbelt Securities Inc. boosted its stake in Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 1,318 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of PAA opened at $20.16 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $17.71 and its two-hundred day moving average is $17.71. Plains All American Pipeline, L.P. has a twelve month low of $15.02 and a twelve month high of $20.29. The firm has a market capitalization of $14.19 billion, a PE ratio of 18.00 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period last year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Plains All American Pipeline, L.P. will post 1.56 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.54%. Plains All American Pipeline’s dividend payout ratio is 113.39%.

Analysts Set New Price Targets

PAA has been the topic of several research analyst reports. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a report on Friday, November 15th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Friday, January 10th. Barclays raised their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Bank of America assumed coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.92.

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.