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

Secure Asset Management LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the fourth quarter, HoldingsChannel reports. The firm acquired 14,568 shares of the pipeline company’s stock, valued at approximately $249,000.

Several other hedge funds also recently bought and sold shares of PAA. Axiom Advisory LLC lifted its holdings in shares of Plains All American Pipeline by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after buying an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Plains All American Pipeline by 5.1% in the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 887 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in Plains All American Pipeline by 0.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC increased its position in Plains All American Pipeline by 1.3% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 90,350 shares of the pipeline company’s stock valued at $1,543,000 after purchasing an additional 1,197 shares during the period. Institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAA shares. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Scotiabank restated 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.92.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $20.39 on Friday. The stock has a 50-day moving average of $18.15 and a two-hundred day moving average of $17.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market cap of $14.35 billion, a P/E ratio of 18.21 and a beta of 1.64. Plains All American Pipeline, L.P. has a one year low of $15.02 and a one year high of $21.00.

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

Plains All American Pipeline Increases Dividend

The firm also recently disclosed 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 of this dividend is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.45%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is presently 113.39%.

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.