AE Wealth Management LLC Invests $176,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

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AE Wealth Management LLC bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,269 shares of the pipeline company’s stock, valued at approximately $176,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Plains All American Pipeline by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 219,698 shares of the pipeline company’s stock valued at $2,496,000 after purchasing an additional 4,908 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Plains All American Pipeline by 12.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 16,938 shares of the pipeline company’s stock valued at $192,000 after purchasing an additional 1,889 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in Plains All American Pipeline in the second quarter valued at approximately $6,096,000. Securian Asset Management Inc lifted its stake in Plains All American Pipeline by 1.0% in the second quarter. Securian Asset Management Inc now owns 457,698 shares of the pipeline company’s stock valued at $5,199,000 after purchasing an additional 4,400 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in Plains All American Pipeline by 49.5% in the second quarter. MML Investors Services LLC now owns 19,713 shares of the pipeline company’s stock valued at $224,000 after purchasing an additional 6,527 shares during the last quarter. Hedge funds and other institutional investors own 44.34% of the company’s stock.

Several equities analysts recently commented on PAA shares. Seaport Global Securities downgraded Plains All American Pipeline from a “buy” rating to a “neutral” rating in a research note on Friday, October 29th. Barclays initiated coverage on Plains All American Pipeline in a research report on Monday, November 29th. They set an “equal weight” rating on the stock. Bank of America initiated coverage on Plains All American Pipeline in a research report on Tuesday, September 28th. They set an “underperform” rating on the stock. Evercore ISI upgraded Plains All American Pipeline from an “in-line” rating to an “outperform” rating and set a $14.00 target price on the stock in a research report on Monday, November 15th. Finally, Zacks Investment Research upgraded Plains All American Pipeline from a “strong sell” rating to a “hold” rating and set a $12.00 target price on the stock in a research report on Wednesday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.40.

Plains All American Pipeline stock opened at $9.84 on Thursday. The stock has a market cap of $7.00 billion, a P/E ratio of -81.83 and a beta of 2.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.78 and a current ratio of 0.90. Plains All American Pipeline, L.P. has a fifty-two week low of $8.07 and a fifty-two week high of $12.38. The firm’s fifty day moving average price is $9.80 and its 200-day moving average price is $10.06.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Monday, November 1st. The pipeline company reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22. The business had revenue of $10.78 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Plains All American Pipeline had a return on equity of 11.68% and a net margin of 0.19%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1 earnings per share for the current year.

Plains All American Pipeline Company Profile

Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment includes transporting crude oil and refined products on pipelines, gathering systems, trucks, and barges.

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