Fortem Financial Group LLC raised its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,154 shares of the pipeline company's stock after purchasing an additional 14,876 shares during the quarter. Fortem Financial Group LLC's holdings in Plains All American Pipeline were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 657 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Plains All American Pipeline in the fourth quarter worth $27,000. Jones Financial Companies Lllp increased its stake in shares of Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after buying an additional 3,368 shares during the period. North Capital Inc. purchased a new position in shares of Plains All American Pipeline in the first quarter worth $61,000. Finally, Creative Financial Designs Inc. ADV purchased a new position in shares of Plains All American Pipeline in the first quarter worth $68,000. 41.78% of the stock is currently owned by institutional investors.
Plains All American Pipeline Stock Performance
PAA traded down $0.03 during midday trading on Tuesday, hitting $18.70. 1,463,500 shares of the company traded hands, compared to its average volume of 3,236,289. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $13.15 billion, a PE ratio of 25.62 and a beta of 0.68. The company's 50-day moving average is $17.60 and its 200 day moving average is $18.52. Plains All American Pipeline, L.P. has a 52 week low of $15.58 and a 52 week high of $21.00.
Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (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%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, research analysts expect 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 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 annualized dividend and a dividend yield of 8.13%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 163.44%.
Analysts Set New Price Targets
Several research analysts recently commented on PAA shares. Barclays reaffirmed an "underweight" rating and issued a $18.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. Citigroup reduced their price objective on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a "buy" rating in a research report on Tuesday. Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.75.
Check Out Our Latest Research Report 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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