Brookwood Investment Group LLC Takes $328,000 Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Brookwood Investment Group LLC has acquired a new position in Plains All American Pipeline, purchasing 16,375 shares valued at approximately $328,000.
• The company reported earnings per share (EPS) of $0.39 for the last quarter, missing analysts' expectations of $0.45.
• Plains All American Pipeline has declared a quarterly dividend of $0.38, with an annualized yield of 8.14%, and a payout ratio of 163.44%.

Brookwood Investment Group LLC purchased a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,375 shares of the pipeline company's stock, valued at approximately $328,000.

Several other hedge funds have also bought and sold shares of PAA. Cambridge Investment Research Advisors Inc. raised its position in Plains All American Pipeline by 31.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock valued at $879,000 after purchasing an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Plains All American Pipeline by 5.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after acquiring an additional 2,891 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Plains All American Pipeline by 32.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock valued at $566,000 after acquiring an additional 6,874 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Plains All American Pipeline during the 1st quarter valued at $218,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Plains All American Pipeline by 61.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock worth $1,521,000 after purchasing an additional 28,916 shares in the last quarter. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA traded up $0.18 during trading hours on Tuesday, hitting $18.64. 733,994 shares of the stock were exchanged, compared to its average volume of 3,624,630. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The company's 50 day moving average is $17.94 and its 200 day moving average is $18.59. The firm has a market capitalization of $13.11 billion, a P/E ratio of 25.53 and a beta of 0.68.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results 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%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. On average, research analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.16%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline's payout ratio is 163.44%.

Analyst Ratings Changes

A number of analysts have commented on PAA shares. Barclays reaffirmed an "underweight" rating and set a $18.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. Scotiabank decreased their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 16th. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.75.

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.