Plains All American Pipeline, L.P. $PAA Shares Purchased by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC boosted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 31.2% in the third quarter, HoldingsChannel.com reports. The fund owned 127,325 shares of the pipeline company’s stock after buying an additional 30,260 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Plains All American Pipeline were worth $2,172,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in shares of Plains All American Pipeline by 3.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 105,263 shares of the pipeline company’s stock worth $1,928,000 after purchasing an additional 3,400 shares in the last quarter. Adams Asset Advisors LLC grew its holdings in Plains All American Pipeline by 3.2% during the 2nd quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock valued at $14,435,000 after buying an additional 24,750 shares during the last quarter. Stephens Inc. AR increased its position in Plains All American Pipeline by 19.5% during the second quarter. Stephens Inc. AR now owns 111,785 shares of the pipeline company’s stock worth $2,048,000 after buying an additional 18,247 shares in the last quarter. Advisors Asset Management Inc. increased its position in Plains All American Pipeline by 16.7% during the second quarter. Advisors Asset Management Inc. now owns 323,590 shares of the pipeline company’s stock worth $5,928,000 after buying an additional 46,406 shares in the last quarter. Finally, IronOak Wealth LLC. acquired a new position in shares of Plains All American Pipeline in the second quarter worth $310,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on PAA. Scotiabank decreased their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Barclays decreased their price target on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. JPMorgan Chase & Co. lowered their price target on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Raymond James Financial reissued a “strong-buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Plains All American Pipeline in a research note on Friday, October 24th. Finally, Morgan Stanley lifted their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and an average target price of $20.60.

Plains All American Pipeline Price Performance

PAA opened at $17.79 on Wednesday. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.00. The company’s 50 day simple moving average is $17.03 and its 200 day simple moving average is $17.51. The stock has a market capitalization of $12.55 billion, a PE ratio of 24.37 and a beta of 0.59. 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 posted its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $0.37 EPS. As a group, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend was Friday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 125.62%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.