Inspire Investing LLC Acquires New Stake in Plains All American Pipeline, L.P. $PAA

Inspire Investing LLC acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the third quarter, HoldingsChannel reports. The firm acquired 61,238 shares of the pipeline company’s stock, valued at approximately $1,045,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAA. Blue Trust Inc. boosted its stake in shares of Plains All American Pipeline by 76.1% during the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 761 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Plains All American Pipeline in the second quarter valued at approximately $40,000. Atwood & Palmer Inc. purchased a new position in shares of Plains All American Pipeline during the second quarter valued at approximately $42,000. Ameritas Advisory Services LLC purchased a new position in shares of Plains All American Pipeline during the second quarter valued at approximately $58,000. Finally, Hilltop National Bank acquired a new stake in Plains All American Pipeline during the second quarter worth approximately $60,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

PAA stock opened at $17.80 on Friday. The company has a market cap of $12.56 billion, a PE ratio of 24.39 and a beta of 0.59. 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 50-day moving average price of $17.10 and a two-hundred day moving average price of $17.52. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.5%. The ex-dividend date was Friday, October 31st. Plains All American Pipeline’s payout ratio is currently 125.62%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PAA. Morgan Stanley boosted their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Scotiabank dropped their target price on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. Raymond James Financial reissued a “strong-buy” rating and issued a $22.00 price target (down from $24.00) on shares of Plains All American Pipeline in a research note on Friday, October 24th. Barclays lowered their price target on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. Finally, 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 report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.60.

About Plains All American Pipeline

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.