Envestnet Asset Management Inc. Purchases 14,277 Shares of Plains All American Pipeline, L.P. $PAA

Envestnet Asset Management Inc. grew its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 4.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 363,557 shares of the pipeline company’s stock after acquiring an additional 14,277 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Plains All American Pipeline were worth $6,660,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. raised its stake in Plains All American Pipeline by 76.1% during the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Plains All American Pipeline during the 2nd quarter valued at about $40,000. Atwood & Palmer Inc. bought a new position in shares of Plains All American Pipeline in the 2nd quarter valued at about $42,000. Ameritas Advisory Services LLC purchased a new position in Plains All American Pipeline in the second quarter worth about $58,000. Finally, Hilltop National Bank bought a new stake in Plains All American Pipeline during the second quarter worth approximately $60,000. Institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

PAA has been the subject of several analyst reports. Barclays lowered their price objective on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. JPMorgan Chase & Co. cut their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Wolfe Research restated a “peer perform” rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Finally, Zacks Research raised shares of Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.55.

Plains All American Pipeline Stock Up 0.3%

NYSE:PAA opened at $16.72 on Wednesday. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 22.90 and a beta of 0.74. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve 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. The stock has a fifty day simple moving average of $16.83 and a 200-day simple moving average of $17.43.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 EPS for the quarter, topping the consensus estimate 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 firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. Analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Friday, October 31st. Plains All American Pipeline’s 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.