Secure Asset Management LLC Invests $249,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Secure Asset Management LLC bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 14,568 shares of the pipeline company’s stock, valued at approximately $249,000.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after purchasing an additional 2,677,951 shares in the last quarter. Citigroup Inc. boosted its holdings in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after buying an additional 1,125,386 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in Plains All American Pipeline in the 3rd quarter worth $11,634,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Plains All American Pipeline by 241.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock valued at $7,813,000 after acquiring an additional 317,927 shares during the period. Finally, ING Groep NV lifted its position in shares of Plains All American Pipeline by 29.1% in the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after acquiring an additional 297,937 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 0.9 %

Shares of NYSE PAA opened at $20.39 on Friday. Plains All American Pipeline, L.P. has a 1-year low of $15.02 and a 1-year high of $21.00. 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 business’s 50 day moving average is $18.15 and its two-hundred day moving average is $17.80. The stock has a market capitalization of $14.35 billion, a P/E ratio of 18.21 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, research analysts expect that Plains All American Pipeline, L.P. will post 1.17 EPS for the current year.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.38 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.52 annualized dividend and a dividend yield of 7.45%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

Wall Street Analysts Forecast Growth

PAA has been the subject of several research analyst reports. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Finally, Barclays increased their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.92.

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.