Wealth Alliance Advisory Group LLC Buys 1,226 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Wealth Alliance Advisory Group LLC raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,153 shares of the pipeline company’s stock after buying an additional 1,226 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Plains All American Pipeline were worth $1,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC increased its stake in Plains All American Pipeline by 97.6% in the third quarter. Cornerstone Wealth Management LLC now owns 30,234 shares of the pipeline company’s stock valued at $525,000 after acquiring an additional 14,930 shares during the last quarter. Magnus Financial Group LLC purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth about $207,000. Exchange Traded Concepts LLC increased its position in shares of Plains All American Pipeline by 2.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 552,006 shares of the pipeline company’s stock valued at $9,588,000 after purchasing an additional 13,633 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Plains All American Pipeline by 1.0% during the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock valued at $71,913,000 after buying an additional 42,383 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in Plains All American Pipeline in the 3rd quarter worth approximately $283,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 0.5 %

Shares of NYSE:PAA opened at $17.27 on Friday. The stock’s 50-day moving average is $17.57 and its 200 day moving average is $17.66. The company has a market cap of $12.11 billion, a PE ratio of 14.89 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90. 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) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $12.32 billion. During the same period last year, the company earned $0.25 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.35%. Plains All American Pipeline’s dividend payout ratio is 109.48%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAA. UBS Group lifted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, Bank of America began coverage on Plains All American Pipeline in a research note on Thursday. They set a “neutral” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline has an average rating of “Moderate Buy” and an average target price of $19.91.

About Plains All American Pipeline

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.