142,482 Shares in Plains All American Pipeline, L.P. $PAA Bought by Rydar Equities Inc.

Rydar Equities Inc. purchased a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 142,482 shares of the pipeline company’s stock, valued at approximately $2,610,000. Plains All American Pipeline accounts for 2.1% of Rydar Equities Inc.’s investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. National Bank of Canada FI grew its stake in shares of Plains All American Pipeline by 99.4% during the 1st quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company’s stock valued at $64,000 after acquiring an additional 1,600 shares during the period. Townsquare Capital LLC boosted its position in shares of Plains All American Pipeline by 14.2% in the first quarter. Townsquare Capital LLC now owns 16,155 shares of the pipeline company’s stock worth $323,000 after purchasing an additional 2,011 shares during the period. Nuveen LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth $8,290,000. Raymond James Financial Inc. lifted its stake in shares of Plains All American Pipeline by 1.0% during the 1st quarter. Raymond James Financial Inc. now owns 664,784 shares of the pipeline company’s stock valued at $13,296,000 after buying an additional 6,309 shares in the last quarter. Finally, Penn Mutual Asset Management purchased a new stake in Plains All American Pipeline in the 1st quarter worth $390,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James Financial restated a “strong-buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. JPMorgan Chase & Co. dropped their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Barclays lowered their target price on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 7th. Finally, Scotiabank cut their target price on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.55.

Plains All American Pipeline Stock Up 0.9%

Shares of PAA opened at $17.76 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 24.33 and a beta of 0.59. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.00. The business’s 50 day simple moving average is $16.83 and its 200-day simple moving average is $17.48.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. As a group, equities analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date was Friday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 125.62%.

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.