Hardy Reed LLC Purchases 5,150 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Hardy Reed LLC raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 15.9% in the third quarter, HoldingsChannel reports. The firm owned 37,450 shares of the pipeline company’s stock after acquiring an additional 5,150 shares during the period. Hardy Reed LLC’s holdings in Plains All American Pipeline were worth $651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC increased its stake in shares of 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 grew its holdings in Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position 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 valued at $109,000 after purchasing an additional 856 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after purchasing an additional 887 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Plains All American Pipeline by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after purchasing an additional 927 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $17.67 on Wednesday. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 15.78 and a beta of 1.61. The stock’s 50-day simple moving average is $17.36 and its 200-day simple moving average is $17.54.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping 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 company had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.19%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s payout ratio is 113.39%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PAA shares. Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada restated 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.