Plains All American Pipeline, L.P. (NYSE:PAA) Shares Bought by ELCO Management Co. LLC

ELCO Management Co. LLC lifted 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 disclosure with the Securities & Exchange Commission. The fund owned 175,813 shares of the pipeline company's stock after purchasing an additional 22,274 shares during the quarter. Plains All American Pipeline comprises 1.9% of ELCO Management Co. LLC's holdings, making the stock its 13th largest position. ELCO Management Co. LLC's holdings in Plains All American Pipeline were worth $3,516,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares in the last quarter. Capital Advisory Group Advisory Services LLC raised its position in Plains All American Pipeline by 2.5% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock valued at $569,000 after acquiring an additional 685 shares in the last quarter. Clarus Group Inc. raised its position in Plains All American Pipeline by 0.9% during the first quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock valued at $1,847,000 after acquiring an additional 803 shares in the last quarter. World Investment Advisors raised its position in Plains All American Pipeline by 4.2% during the fourth quarter. World Investment Advisors now owns 21,100 shares of the pipeline company's stock valued at $360,000 after acquiring an additional 850 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its position in Plains All American Pipeline by 3.3% during the first quarter. Avidian Wealth Enterprises LLC now owns 28,866 shares of the pipeline company's stock valued at $577,000 after acquiring an additional 911 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA traded up $0.12 during trading on Friday, reaching $18.88. The stock had a trading volume of 2,000,854 shares, compared to its average volume of 3,246,837. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business has a fifty day moving average price of $17.55 and a 200-day moving average price of $18.50. The stock has a market cap of $13.28 billion, a PE ratio of 25.86 and a beta of 0.68. Plains All American Pipeline, L.P. has a 1-year low of $15.58 and a 1-year high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly 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%. Plains All American Pipeline's revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. On average, equities 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. Stockholders of record on Thursday, July 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.05%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is presently 163.44%.

Analyst Ratings Changes

Several brokerages recently weighed in on PAA. Royal Bank Of Canada reiterated a "sector perform" rating and set a $20.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 16th. Raymond James Financial reiterated a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Citigroup dropped their price objective on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $20.36.

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.