Apollon Wealth Management LLC Grows Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Apollon Wealth Management LLC raised its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 65.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 79,887 shares of the pipeline company's stock after purchasing an additional 31,670 shares during the period. Apollon Wealth Management LLC's holdings in Plains All American Pipeline were worth $1,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAA. Barclays PLC grew its position in Plains All American Pipeline by 110.4% in the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company's stock worth $72,186,000 after acquiring an additional 2,218,014 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Plains All American Pipeline by 4.6% in the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock valued at $475,301,000 after purchasing an additional 1,224,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Plains All American Pipeline by 8.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock worth $261,283,000 after purchasing an additional 1,211,286 shares during the period. CIBC Private Wealth Group LLC increased its position in Plains All American Pipeline by 30.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company's stock valued at $92,470,000 after acquiring an additional 1,162,933 shares during the last quarter. Finally, Natixis grew its holdings in Plains All American Pipeline by 33.2% during the 4th quarter. Natixis now owns 2,707,900 shares of the pipeline company's stock valued at $46,251,000 after purchasing an additional 675,000 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA traded up $0.16 during midday trading on Friday, reaching $18.91. 3,623,866 shares of the stock were exchanged, compared to its average volume of 3,260,637. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 25.90 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $17.77 and a two-hundred day simple moving average of $18.56. Plains All American Pipeline, L.P. has a twelve month low of $15.58 and a twelve month high of $21.00.

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

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.04%. Plains All American Pipeline's payout ratio is presently 163.44%.

Analysts Set New Price Targets

Several brokerages have weighed in on PAA. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $20.00 target price on shares of Plains All American Pipeline in a report on Friday, May 16th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 9th. Citigroup reduced their price target on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Morgan Stanley reiterated an "equal weight" rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Scotiabank cut their price objective on shares of Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.75.

Plains All American Pipeline Company 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.