Cresset Asset Management LLC Makes New $1.35 Million Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Cresset Asset Management LLC purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 78,787 shares of the pipeline company's stock, valued at approximately $1,346,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in Plains All American Pipeline by 4.7% during the 4th quarter. Larson Financial Group LLC now owns 13,083 shares of the pipeline company's stock worth $223,000 after buying an additional 583 shares during the period. Financial Sense Advisors Inc. raised its stake in Plains All American Pipeline by 5.4% during the 4th quarter. Financial Sense Advisors Inc. now owns 16,027 shares of the pipeline company's stock worth $274,000 after buying an additional 823 shares during the period. World Investment Advisors raised its stake in Plains All American Pipeline by 4.2% during the 4th quarter. World Investment Advisors now owns 21,100 shares of the pipeline company's stock worth $360,000 after buying an additional 850 shares during the period. Eclectic Associates Inc. ADV raised its stake in Plains All American Pipeline by 7.6% during the 4th quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company's stock worth $207,000 after buying an additional 854 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in Plains All American Pipeline by 5.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 17,195 shares of the pipeline company's stock worth $294,000 after buying an additional 885 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup decreased their price objective on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. UBS Group reissued a "buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Raymond James reissued a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Barclays reaffirmed an "underweight" rating and issued a $18.00 target price on shares of Plains All American Pipeline in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.50.

Plains All American Pipeline Stock Performance

PAA traded down $0.03 during trading hours on Friday, hitting $17.25. The stock had a trading volume of 2,110,797 shares, compared to its average volume of 3,106,463. The company's fifty day simple moving average is $18.13 and its 200 day simple moving average is $18.44. Plains All American Pipeline, L.P. has a 1 year low of $15.58 and a 1 year high of $21.00. The stock has a market cap of $12.14 billion, a PE ratio of 23.63 and a beta of 0.70. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.81%. Plains All American Pipeline's dividend payout ratio is currently 163.44%.

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.