Envestnet Asset Management Inc. Grows Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Envestnet Asset Management Inc. grew its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 21.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,280 shares of the pipeline company's stock after buying an additional 62,221 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Plains All American Pipeline were worth $6,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Plains All American Pipeline by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 147,907 shares of the pipeline company's stock valued at $2,958,000 after buying an additional 14,956 shares in the last quarter. Avantax Planning Partners Inc. increased its position in shares of Plains All American Pipeline by 14.3% during the first quarter. Avantax Planning Partners Inc. now owns 16,000 shares of the pipeline company's stock worth $320,000 after purchasing an additional 2,000 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Plains All American Pipeline during the first quarter worth approximately $61,000. D.A. Davidson & CO. increased its position in shares of Plains All American Pipeline by 3.9% during the first quarter. D.A. Davidson & CO. now owns 26,251 shares of the pipeline company's stock worth $525,000 after purchasing an additional 980 shares in the last quarter. Finally, Miller Howard Investments Inc. NY increased its position in shares of Plains All American Pipeline by 9.6% during the first quarter. Miller Howard Investments Inc. NY now owns 2,861,430 shares of the pipeline company's stock worth $57,229,000 after purchasing an additional 250,558 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Down 1.3%

PAA traded down $0.25 during mid-day trading on Friday, hitting $18.68. 3,411,344 shares of the stock were exchanged, compared to its average volume of 3,643,956. The firm's fifty day moving average is $17.91 and its two-hundred day moving average is $18.59. Plains All American Pipeline, L.P. has a 1-year low of $15.57 and a 1-year high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $13.14 billion, a PE ratio of 25.59 and a beta of 0.68.

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 for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $0.41 EPS. The company's quarterly revenue was up .1% compared to the same quarter last year. 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 business 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 dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.14%. Plains All American Pipeline's dividend payout ratio (DPR) is 163.44%.

Analysts Set New Price Targets

PAA has been the subject of several research reports. UBS Group set a $25.00 price target on Plains All American Pipeline and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Citigroup decreased their price target on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company 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's stock. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of "Hold" and a consensus 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.