Commerce Bank Invests $1.01 Million in Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Commerce Bank has acquired a new position in Plains All American Pipeline, L.P., purchasing 50,465 shares valued at approximately $1,009,000 during the first quarter.
• Financial analysts have set a consensus price target of $20.75 for Plains All American Pipeline, with ratings ranging from "sell" to "strong buy" given by various firms.
• The company recently announced a quarterly dividend of $0.38 per share, which represents an annualized dividend yield of 8.5% and a dividend payout ratio of 163.44%.

Commerce Bank purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 50,465 shares of the pipeline company's stock, valued at approximately $1,009,000.

Several other large investors have also recently added to or reduced their stakes in PAA. Farther Finance Advisors LLC boosted its position in Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after buying an additional 657 shares during the last quarter. National Bank of Canada FI purchased a new position in Plains All American Pipeline in the fourth quarter valued at about $27,000. North Capital Inc. acquired a new stake in Plains All American Pipeline during the 1st quarter valued at approximately $61,000. Creative Financial Designs Inc. ADV purchased a new stake in Plains All American Pipeline during the 1st quarter worth approximately $68,000. Finally, CWM LLC raised its position in shares of Plains All American Pipeline by 32.3% in the 1st quarter. CWM LLC now owns 8,558 shares of the pipeline company's stock valued at $171,000 after purchasing an additional 2,090 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

NYSE:PAA traded up $0.01 during mid-day trading on Thursday, hitting $17.87. The stock had a trading volume of 3,459,780 shares, compared to its average volume of 3,597,307. The company has a 50 day simple moving average of $18.14 and a 200-day simple moving average of $18.53. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 24.48 and a beta of 0.73. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued 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%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 8.5%. Plains All American Pipeline's dividend payout ratio (DPR) is 163.44%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PAA shares. JPMorgan Chase & Co. raised their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Barclays reissued an "underweight" rating and issued a $18.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 16th. Scotiabank lowered their target price on shares of 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, June 5th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.