Hardy Reed LLC Grows Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Hardy Reed LLC increased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 15.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,450 shares of the pipeline company’s stock after purchasing an additional 5,150 shares during the period. Hardy Reed LLC’s holdings in Plains All American Pipeline were worth $651,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Plains All American Pipeline during the third quarter valued at approximately $28,000. ORG Partners LLC boosted its holdings in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of 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 worth $68,000 after purchasing an additional 1,318 shares during the last quarter. American National Bank lifted its position in shares of Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after buying an additional 3,110 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Plains All American Pipeline by 31.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after buying an additional 1,060 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAA has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA opened at $17.67 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 15.78 and a beta of 1.61. The firm’s 50-day moving average is $17.36 and its 200 day moving average is $17.54.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts predict that Plains All American Pipeline, L.P. will post 1.27 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

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.