Crescent Grove Advisors LLC Acquires 2,719 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Crescent Grove Advisors LLC boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 173,944 shares of the pipeline company’s stock after purchasing an additional 2,719 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $3,021,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norden Group LLC bought a new position in shares of Plains All American Pipeline during the first quarter worth $338,000. Larson Financial Group LLC bought a new position in shares of Plains All American Pipeline during the 1st quarter valued at about $88,000. Oxbow Advisors LLC grew its position in shares of Plains All American Pipeline by 4.6% during the first quarter. Oxbow Advisors LLC now owns 115,933 shares of the pipeline company’s stock valued at $2,036,000 after purchasing an additional 5,115 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Plains All American Pipeline in the first quarter worth about $201,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth about $4,420,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $16.92 on Wednesday. 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 current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $17.40 and a 200-day moving average price of $17.56. The firm has a market capitalization of $11.86 billion, a PE ratio of 15.38 and a beta of 1.61.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.51%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 115.45%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Wednesday, September 4th. Bank of America began 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 research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.82.

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.