29,640 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Purchased by Pasadena Private Wealth LLC

Key Points

• Pasadena Private Wealth LLC recently acquired 29,640 shares of Plains All American Pipeline, valued at approximately $593,000, indicating growing institutional interest in the company.
• Plains All American Pipeline will pay a quarterly dividend of $0.38 per share on August 14th, resulting in an annualized dividend yield of 8.13%.
• Analysts have varied ratings for Plains All American, with the average consensus rating being "Hold" and a price target of $20.75.

Pasadena Private Wealth LLC acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,640 shares of the pipeline company's stock, valued at approximately $593,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position 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 buying an additional 657 shares during the period. National Bank of Canada FI purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth about $27,000. North Capital Inc. acquired a new stake in shares of Plains All American Pipeline in the first quarter worth approximately $61,000. Creative Financial Designs Inc. ADV purchased a new stake in Plains All American Pipeline in the first quarter valued at approximately $68,000. Finally, CWM LLC increased its position in Plains All American Pipeline by 32.3% during the first quarter. CWM LLC now owns 8,558 shares of the pipeline company's stock worth $171,000 after purchasing an additional 2,090 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Stock Down 1.4%

PAA stock traded down $0.25 during trading on Friday, reaching $18.00. The stock had a trading volume of 2,307,358 shares, compared to its average volume of 3,611,471. 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 capitalization of $12.66 billion, a P/E ratio of 24.66 and a beta of 0.68. The firm has a fifty day moving average price of $18.07 and a 200 day moving average price of $18.58.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced 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 return on equity of 11.69% and a net margin of 1.54%. During the same period in the previous year, the business earned $0.41 EPS. Plains All American Pipeline's revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.4%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 163.44%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PAA shares. Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Royal Bank Of Canada reissued a "sector perform" rating and set a $20.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 16th. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the stock a "buy" rating in a report on Tuesday, July 15th. Scotiabank reduced their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. increased their target price 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.75.

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.