Avantax Advisory Services Inc. Acquires 33,271 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Avantax Advisory Services Inc. has significantly increased its stake in Plains All American Pipeline, L.P., raising ownership by 230.5% to a total of 47,707 shares, valued at approximately $954,000.
• The pipeline company recently reported earnings of $0.39 per share, missing analysts' expectations of $0.45, while also announcing a quarterly dividend of $0.38 per share, reflecting an 8.4% dividend yield.
• Current consensus ratings indicate a mix of opinions on the stock, with analysts assigning a "hold" rating and an average price target of $20.75.

Avantax Advisory Services Inc. raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 230.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,707 shares of the pipeline company's stock after purchasing an additional 33,271 shares during the period. Avantax Advisory Services Inc.'s holdings in Plains All American Pipeline were worth $954,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Brookwood Investment Group LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at about $328,000. AE Wealth Management LLC lifted its holdings in Plains All American Pipeline by 12.1% during the 1st quarter. AE Wealth Management LLC now owns 12,361 shares of the pipeline company's stock worth $247,000 after purchasing an additional 1,330 shares during the last quarter. Financial Sense Advisors Inc. boosted its stake in Plains All American Pipeline by 4.8% in the 1st quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock valued at $336,000 after purchasing an additional 766 shares during the period. WT Wealth Management grew its holdings in Plains All American Pipeline by 7.7% in the 1st quarter. WT Wealth Management now owns 31,310 shares of the pipeline company's stock valued at $626,000 after buying an additional 2,229 shares in the last quarter. Finally, Chancellor Financial Group WB LP bought a new position in Plains All American Pipeline during the 1st quarter worth $219,000. 41.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PAA shares. Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Scotiabank reduced their price target on shares of Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of "Hold" and a consensus price target of $20.75.

Plains All American Pipeline Stock Performance

NYSE:PAA traded down $0.07 during trading on Monday, reaching $17.93. The company's stock had a trading volume of 2,897,331 shares, compared to its average volume of 3,606,583. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 24.56 and a beta of 0.73. The firm has a 50 day moving average of $18.07 and a 200-day moving average of $18.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. During the same quarter in the previous year, the company posted $0.41 EPS. Plains All American Pipeline's revenue for the quarter was up .1% on a year-over-year basis. Research analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.38 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.5%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 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.