Plains All American Pipeline, L.P. (NYSE:PAA) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Plains All American Pipeline by 38.5%, owning approximately 616,996 shares, valued at about $12.34 million, as of its latest SEC filing.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a price target averaging $20.75 following upgrades and downgrades from various equity research firms.
• Plains All American Pipeline announced a quarterly dividend of $0.38 per share, translating to an annual yield of 8.5%, despite having a high payout ratio of 163.44%.

LPL Financial LLC grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 616,996 shares of the pipeline company's stock after buying an additional 171,559 shares during the quarter. LPL Financial LLC owned 0.09% of Plains All American Pipeline worth $12,340,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after buying an additional 657 shares during the period. National Bank of Canada FI purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at $27,000. North Capital Inc. purchased a new position in shares of Plains All American Pipeline in the first quarter valued at $61,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Plains All American Pipeline in the first quarter valued at $68,000. Finally, CWM LLC boosted its stake in shares of Plains All American Pipeline by 32.3% in the first quarter. CWM LLC now owns 8,558 shares of the pipeline company's stock valued at $171,000 after purchasing an additional 2,090 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA traded down $0.10 on Tuesday, reaching $17.61. 628,336 shares of the company's stock were exchanged, compared to its average volume of 3,585,265. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 24.09 and a beta of 0.73. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The business's 50-day moving average is $18.21 and its two-hundred day moving average is $18.45. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The firm's quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is 172.73%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PAA. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has an average rating of "Hold" and an average price target of $20.75.

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.