Gilman Hill Asset Management LLC Has $1.42 Million Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Gilman Hill Asset Management LLC trimmed its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,215 shares of the pipeline company’s stock after selling 2,250 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Plains All American Pipeline were worth $1,421,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares in the last quarter. Citigroup Inc. lifted its stake in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after acquiring an additional 1,125,386 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Plains All American Pipeline during the 3rd quarter worth about $11,634,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock valued at $7,813,000 after acquiring an additional 317,927 shares in the last quarter. Finally, ING Groep NV grew its stake in Plains All American Pipeline by 29.1% during the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after acquiring an additional 297,937 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Barclays lifted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday. 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 objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.92.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $20.06 on Monday. The firm’s fifty day moving average price is $17.81 and its two-hundred day moving average price is $17.73. Plains All American Pipeline, L.P. has a 1 year low of $15.02 and a 1 year high of $20.35. The firm has a market capitalization of $14.12 billion, a P/E ratio of 12.50 and a beta of 1.64. 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 posted its earnings results 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 return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.56 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.58%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. 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.