264,647 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC acquired a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the third quarter, Holdings Channel.com reports. The fund acquired 264,647 shares of the pipeline company’s stock, valued at approximately $4,597,000.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in Plains All American Pipeline by 114.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after purchasing an additional 1,020,277 shares in the last quarter. Blackstone Inc. increased its stake in shares of Plains All American Pipeline by 1.4% in the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after buying an additional 318,944 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Plains All American Pipeline by 241.0% in the third 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 buying an additional 317,927 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at approximately $4,420,000. Finally, Cetera Investment Advisers acquired a new stake in Plains All American Pipeline during the 1st quarter worth approximately $2,763,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

PAA stock opened at $17.28 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The firm has a market cap of $12.11 billion, a PE ratio of 15.71 and a beta of 1.61. The business has a 50 day moving average of $17.39 and a 200-day moving average of $17.56. Plains All American Pipeline, L.P. has a 12-month low of $14.46 and a 12-month high of $19.17.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s payout ratio is 115.45%.

Analyst Ratings Changes

Several research analysts have commented on PAA shares. Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline 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.