Plains All American Pipeline, L.P. $PAA Shares Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. boosted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,352 shares of the pipeline company’s stock after acquiring an additional 3,069 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Plains All American Pipeline were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Apollon Wealth Management LLC lifted its holdings in shares of Plains All American Pipeline by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock valued at $1,475,000 after buying an additional 628 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after buying an additional 657 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Plains All American Pipeline by 5.2% in the 2nd quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company’s stock valued at $279,000 after buying an additional 748 shares during the period. Blue Trust Inc. lifted its holdings in shares of Plains All American Pipeline by 76.1% in the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after buying an additional 761 shares during the period. Finally, Prossimo Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 6.6% in the 1st quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company’s stock valued at $247,000 after buying an additional 764 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $16.82 on Friday. The company has a market cap of $11.83 billion, a P/E ratio of 23.04 and a beta of 0.72. 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, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The business has a fifty day simple moving average of $17.09 and a 200-day simple moving average of $17.48.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. Equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.0%. Plains All American Pipeline’s payout ratio is currently 172.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PAA shares. UBS Group set a $25.00 price target on Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, July 15th. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. Barclays dropped their price target on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley cut their price target on Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Citigroup set a $18.00 price target on Plains All American Pipeline and gave the stock a “neutral” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and an average target price of $20.73.

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.