Citizens Financial Group Inc. RI Makes New $186,000 Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Citizens Financial Group Inc. RI bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,700 shares of the pipeline company’s stock, valued at approximately $186,000.

Several other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline during the third quarter valued at $28,000. ORG Partners LLC grew its stake in Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 730 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 1,318 shares in the last quarter. American National Bank lifted its position in shares of Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 3,110 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Plains All American Pipeline by 31.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,060 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAA. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Price Performance

NYSE PAA opened at $17.94 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 firm has a market cap of $12.62 billion, a P/E ratio of 16.02 and a beta of 1.61. The stock’s 50-day moving average is $17.37 and its two-hundred day moving average is $17.54. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17.

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 analysts’ consensus estimates 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 firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s payout ratio is currently 113.39%.

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.