Exchange Traded Concepts LLC decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 494,855 shares of the pipeline company's stock after selling 16,199 shares during the quarter. Exchange Traded Concepts LLC owned 0.07% of Plains All American Pipeline worth $9,066,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of PAA. Farther Finance Advisors LLC raised its holdings 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 worth $26,000 after purchasing an additional 657 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Plains All American Pipeline during the second quarter worth about $42,000. North Capital Inc. bought a new stake in Plains All American Pipeline in the 1st quarter valued at about $61,000. National Bank of Canada FI boosted its position in shares of Plains All American Pipeline by 99.4% in the 1st quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after purchasing an additional 1,600 shares during the period. Finally, Creative Financial Designs Inc. ADV acquired a new position in Plains All American Pipeline during the first quarter worth $68,000. 41.78% of the stock is owned by institutional investors and hedge funds.
Plains All American Pipeline Stock Performance
Plains All American Pipeline stock traded down $0.12 during midday trading on Monday, hitting $16.91. The stock had a trading volume of 765,833 shares, compared to its average volume of 3,439,687. The company has a market capitalization of $11.89 billion, a PE ratio of 23.16 and a beta of 0.80. Plains All American Pipeline, L.P. has a 52-week low of $15.57 and a 52-week high of $21.00. The firm's fifty day moving average is $17.88 and its two-hundred day moving average is $17.95. 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 announced its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. 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 for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. On average, research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.
Plains All American Pipeline Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 9.0%. Plains All American Pipeline's dividend payout ratio is 172.73%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on PAA shares. Citigroup set a $18.00 price target on shares of Plains All American Pipeline and gave the stock a "neutral" rating in a research report on Friday, August 8th. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a "buy" rating in a report on Tuesday, July 15th. Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Zacks Research raised shares of Plains All American Pipeline to a "hold" rating in a research report on Monday, August 11th. Finally, Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of "Hold" and an average target price of $20.58.
View Our Latest Research Report on Plains All American Pipeline
Plains All American Pipeline Company Profile
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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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