Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Fortem Financial Group LLC

Fortem Financial Group LLC cut its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,506 shares of the pipeline company’s stock after selling 7,975 shares during the quarter. Fortem Financial Group LLC’s holdings in Plains All American Pipeline were worth $1,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Plains All American Pipeline by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 595,776 shares of the pipeline company’s stock worth $10,349,000 after acquiring an additional 1,989 shares in the last quarter. Barclays PLC raised its stake in shares of Plains All American Pipeline by 1.6% during the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after purchasing an additional 32,061 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Plains All American Pipeline during the third quarter worth $11,634,000. Stifel Financial Corp boosted its stake in shares of Plains All American Pipeline by 30.6% in the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after purchasing an additional 54,111 shares during the period. Finally, Morse Asset Management Inc grew its holdings in Plains All American Pipeline by 12.7% during the 3rd quarter. Morse Asset Management Inc now owns 45,350 shares of the pipeline company’s stock valued at $788,000 after purchasing an additional 5,100 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 1.5 %

NYSE:PAA opened at $17.63 on Wednesday. The stock has a 50-day simple moving average of $17.46 and a 200 day simple moving average of $17.60. Plains All American Pipeline, L.P. has a one year low of $14.46 and a one year high of $19.17. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 15.74 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly 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. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.20%. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Bank of America initiated coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.