Naviter Wealth LLC Buys New Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Naviter Wealth LLC bought a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,413 shares of the pipeline company's stock, valued at approximately $291,000.

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in Plains All American Pipeline by 5.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after purchasing an additional 2,891 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 3,368 shares during the period. Farther Finance Advisors LLC raised its holdings in 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 valued at $26,000 after acquiring an additional 657 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Plains All American Pipeline by 50.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,154 shares of the pipeline company's stock valued at $805,000 after acquiring an additional 15,854 shares during the period. Finally, Ritholtz Wealth Management bought a new position in Plains All American Pipeline in the 1st quarter valued at about $302,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PAA shares. Barclays reaffirmed an "underweight" rating and set a $18.00 target price on shares of Plains All American Pipeline in a report on Friday, May 9th. UBS Group reaffirmed a "buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. increased 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 research report on Wednesday, June 18th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.50.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $18.26 on Monday. Plains All American Pipeline, L.P. has a fifty-two week low of $15.58 and a fifty-two week 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. The firm has a market capitalization of $12.84 billion, a P/E ratio of 25.01 and a beta of 0.66. The company's 50 day moving average price is $17.38 and its two-hundred day moving average price is $18.42.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share 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%. During the same quarter last year, the business posted $0.41 earnings per share. Plains All American Pipeline's revenue for the quarter was up .1% compared to the same quarter last year. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.32%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 163.44%.

Plains All American Pipeline Company Profile

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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