Westmount Partners LLC Purchases New Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Westmount Partners LLC purchased a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 10,334 shares of the pipeline company’s stock, valued at approximately $177,000.

Several other large investors have also recently added to or reduced their stakes in PAA. Wilmington Savings Fund Society FSB acquired a new stake in Plains All American Pipeline in the third quarter worth $27,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline during the third quarter valued at about $28,000. Sunbelt Securities Inc. boosted its position in shares of Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 1,318 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Plains All American Pipeline by 31.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 856 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 0.4 %

Shares of NYSE:PAA traded up $0.07 during mid-day trading on Monday, reaching $18.95. 1,770,256 shares of the stock were exchanged, compared to its average volume of 4,677,481. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market cap of $13.33 billion, a P/E ratio of 16.92 and a beta of 1.64. Plains All American Pipeline, L.P. has a one year low of $15.02 and a one year high of $19.31. The stock’s 50 day simple moving average is $17.58 and its 200-day simple moving average is $17.68.

Plains All American Pipeline (NYSE:PAA) last issued 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 firm had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio (DPR) is 135.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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 note on Friday, November 15th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Bank of America began coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Scotiabank restated a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday. Finally, Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

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.