Barclays PLC Purchases 32,061 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Barclays PLC boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 2,008,321 shares of the pipeline company’s stock after buying an additional 32,061 shares during the quarter. Barclays PLC’s holdings in Plains All American Pipeline were worth $34,885,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Plains All American Pipeline by 0.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Plains All American Pipeline by 1.0% in the third 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. Citigroup Inc. grew its position in Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in Plains All American Pipeline by 2.0% during the second quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock worth $45,520,000 after acquiring an additional 48,799 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Plains All American Pipeline by 114.9% in the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after acquiring an additional 1,020,277 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Down 1.1 %

Shares of PAA stock opened at $17.86 on Friday. Plains All American Pipeline, L.P. has a 1-year low of $14.81 and a 1-year high of $19.17. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 15.95 and a beta of 1.64. The stock has a 50-day moving average of $17.48 and a 200-day moving average of $17.61.

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 analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 yield of 7.11%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is presently 113.39%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAA. Bank of America started coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Royal Bank of Canada restated 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.82.

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.