Miller Howard Investments Inc. NY Has $44.59 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Miller Howard Investments Inc. NY grew its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,610,872 shares of the pipeline company’s stock after purchasing an additional 38,062 shares during the period. Plains All American Pipeline makes up 1.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 26th biggest holding. Miller Howard Investments Inc. NY’s holdings in Plains All American Pipeline were worth $44,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Plains All American Pipeline during the 3rd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 856 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock valued at $139,000 after purchasing an additional 4,000 shares during the last quarter. Westmount Partners LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at about $177,000. Finally, Citizens Financial Group Inc. RI purchased a new position in Plains All American Pipeline during the third quarter worth about $186,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $19.40 on Friday. The business’s 50-day moving average price is $18.62 and its 200-day moving average price is $17.90. The firm has a market capitalization of $13.65 billion, a PE ratio of 17.32 and a beta of 1.65. Plains All American Pipeline, L.P. has a 12 month low of $15.02 and a 12 month high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business 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 dividend of $0.38 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date is Friday, January 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 135.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Scotiabank restated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, January 10th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. 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 research note on Friday, November 15th. Finally, Barclays boosted their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.21.

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.