LPL Financial LLC Raises Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• LPL Financial LLC increased its stake in Plains All American Pipeline by 38.5%, owning approximately 616,996 shares, valued at about $12.34 million, as of its latest SEC filing.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a price target averaging $20.75 following upgrades and downgrades from various equity research firms.
• Plains All American Pipeline announced a quarterly dividend of $0.38 per share, translating to an annual yield of 8.5%, despite having a high payout ratio of 163.44%.

LPL Financial LLC boosted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 616,996 shares of the pipeline company's stock after buying an additional 171,559 shares during the quarter. LPL Financial LLC owned approximately 0.09% of Plains All American Pipeline worth $12,340,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Farther Finance Advisors LLC increased 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 valued at $26,000 after buying an additional 657 shares during the period. Capital Advisory Group Advisory Services LLC grew its holdings in Plains All American Pipeline by 2.5% in the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock worth $569,000 after purchasing an additional 685 shares during the last quarter. Prossimo Advisors LLC grew its holdings in Plains All American Pipeline by 6.6% in the first quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company's stock worth $247,000 after purchasing an additional 764 shares during the last quarter. Financial Sense Advisors Inc. grew its holdings in Plains All American Pipeline by 4.8% in the first quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock worth $336,000 after purchasing an additional 766 shares during the last quarter. Finally, Clarus Group Inc. grew its holdings in Plains All American Pipeline by 0.9% in the first quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock worth $1,847,000 after purchasing an additional 803 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PAA shares. JPMorgan Chase & Co. lifted their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Citigroup cut their price target on shares of 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. Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Scotiabank cut their price target on shares of Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $20.00 price target on shares of Plains All American Pipeline in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.75.

Plains All American Pipeline Price Performance

Shares of PAA opened at $17.87 on Friday. The firm has a market capitalization of $12.57 billion, a PE ratio of 24.48 and a beta of 0.73. The company's fifty day moving average price is $18.16 and its 200-day moving average price is $18.52. 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 debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

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 analysts' consensus estimates 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 firm's revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a yield of 8.5%. Plains All American Pipeline's payout ratio is currently 163.44%.

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.

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