ELCO Management Co. LLC raised its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,813 shares of the pipeline company's stock after buying an additional 22,274 shares during the period. Plains All American Pipeline accounts for 1.9% of ELCO Management Co. LLC's investment portfolio, making the stock its 13th biggest holding. ELCO Management Co. LLC's holdings in Plains All American Pipeline were worth $3,516,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after purchasing an additional 657 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp increased its stake in shares of Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after purchasing an additional 3,368 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $61,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 41.78% of the company's stock.
Plains All American Pipeline Price Performance
NYSE:PAA traded down $0.03 during trading hours on Wednesday, hitting $18.67. The stock had a trading volume of 2,751,030 shares, compared to its average volume of 3,248,843. The company has a 50 day simple moving average of $17.65 and a two-hundred day simple moving average of $18.52. 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 $15.58 and a one year high of $21.00. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 25.58 and a beta of 0.68.
Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing the consensus estimate 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%. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company's revenue for the quarter was up .1% compared to the same quarter last year. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.
Plains All American Pipeline Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.14%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline's payout ratio is 163.44%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on PAA shares. Royal Bank Of Canada restated a "sector perform" rating and set a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 16th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Barclays restated an "underweight" rating and set a $18.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Finally, Citigroup reduced their price objective on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and a consensus price target of $20.75.
Get Our Latest Analysis on Plains All American Pipeline
About Plains All American Pipeline
(
Free Report)
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.
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