Crescent Grove Advisors LLC Acquires 40,221 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Crescent Grove Advisors LLC lifted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,365 shares of the pipeline company's stock after buying an additional 40,221 shares during the quarter. Crescent Grove Advisors LLC's holdings in Plains All American Pipeline were worth $4,007,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PAA. Ieq Capital LLC bought a new position in Plains All American Pipeline during the fourth quarter valued at about $221,000. IFP Advisors Inc grew its stake in Plains All American Pipeline by 63.1% in the 4th quarter. IFP Advisors Inc now owns 11,911 shares of the pipeline company's stock valued at $203,000 after buying an additional 4,606 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Plains All American Pipeline by 2.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 53,443 shares of the pipeline company's stock worth $913,000 after acquiring an additional 1,048 shares during the period. Parkside Financial Bank & Trust lifted its position in Plains All American Pipeline by 74.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 58,491 shares of the pipeline company's stock worth $999,000 after acquiring an additional 25,013 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Plains All American Pipeline by 0.8% during the fourth quarter. US Bancorp DE now owns 126,392 shares of the pipeline company's stock valued at $2,159,000 after acquiring an additional 1,003 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock remained flat at $18.26 during mid-day trading on Friday. The company's stock had a trading volume of 1,649,451 shares, compared to its average volume of 3,242,330. The company has a market capitalization of $12.84 billion, a P/E ratio of 25.01 and a beta of 0.66. The business has a fifty day moving average of $17.38 and a two-hundred day moving average of $18.41. Plains All American Pipeline, L.P. has a 1 year low of $15.58 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 for the quarter, missing the consensus estimate 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%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. Research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.32%. Plains All American Pipeline's dividend payout ratio is 163.44%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PAA shares. Citigroup lowered their price target on 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. Wells Fargo & Company downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Mizuho set a $22.00 price target on Plains All American Pipeline and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Raymond James Financial reiterated a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Barclays reissued an "underweight" rating and issued a $18.00 price objective on shares of Plains All American Pipeline 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has a consensus rating of "Hold" and an average target price of $20.50.

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.