Rockefeller Capital Management L.P. Boosts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Rockefeller Capital Management L.P. raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,443 shares of the pipeline company’s stock after buying an additional 3,781 shares during the period. Rockefeller Capital Management L.P.’s holdings in Plains All American Pipeline were worth $2,770,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. ORG Partners LLC boosted its position in Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after buying an additional 730 shares during the period. Axiom Advisory LLC raised its stake in shares of Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 750 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Plains All American Pipeline by 16.3% during 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 during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after acquiring an additional 927 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAA. Bank of America began 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 for the company. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Price Performance

PAA stock opened at $18.44 on Friday. Plains All American Pipeline, L.P. has a 1 year low of $14.46 and a 1 year high of $19.17. The company has a market cap of $12.98 billion, a P/E ratio of 16.46 and a beta of 1.64. The firm has a 50-day moving average of $17.43 and a 200 day moving average of $17.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the business earned $0.35 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.29 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 6.89%. Plains All American Pipeline’s payout ratio is 113.39%.

Plains All American Pipeline 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.