Spire Wealth Management Increases Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Spire Wealth Management increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 14.8% in the fourth quarter, Holdings Channel reports. The fund owned 20,824 shares of the pipeline company’s stock after purchasing an additional 2,691 shares during the quarter. Spire Wealth Management’s holdings in Plains All American Pipeline were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in Plains All American Pipeline in the third quarter worth $27,000. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline during the 3rd quarter worth $28,000. Northwestern Mutual Wealth Management Co. increased its position in Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares in the last quarter. Avior Wealth Management LLC increased its position in Plains All American Pipeline by 100.0% during the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock valued at $139,000 after buying an additional 4,000 shares in the last quarter. Finally, Westmount Partners LLC purchased a new stake in Plains All American Pipeline in the fourth quarter valued at about $177,000. 41.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PAA. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Scotiabank reissued a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, January 10th. Finally, Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline Stock Down 1.4 %

PAA opened at $20.01 on Friday. Plains All American Pipeline, L.P. has a 12 month low of $15.02 and a 12 month high of $21.00. The business has a 50-day moving average of $18.56 and a two-hundred day moving average of $17.89. 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 market capitalization of $14.08 billion, a price-to-earnings ratio of 17.87 and a beta of 1.65.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, research analysts expect that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.38 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.60%. Plains All American Pipeline’s dividend payout ratio is presently 135.71%.

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.