Manning & Napier Advisors LLC Acquires 50,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Manning & Napier Advisors LLC lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 50.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,000 shares of the pipeline company's stock after buying an additional 50,000 shares during the period. Manning & Napier Advisors LLC's holdings in Plains All American Pipeline were worth $3,000,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. PFG Investments LLC raised its stake in Plains All American Pipeline by 21.0% during the first quarter. PFG Investments LLC now owns 54,624 shares of the pipeline company's stock worth $1,092,000 after acquiring an additional 9,473 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Plains All American Pipeline during the 1st quarter valued at approximately $291,000. Inscription Capital LLC acquired a new position in Plains All American Pipeline during the 1st quarter worth approximately $501,000. Ritholtz Wealth Management bought a new position in Plains All American Pipeline in the 1st quarter valued at approximately $302,000. Finally, Hennessy Advisors Inc. lifted its stake in Plains All American Pipeline by 4.2% in the 1st quarter. Hennessy Advisors Inc. now owns 438,196 shares of the pipeline company's stock valued at $8,764,000 after purchasing an additional 17,570 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PAA shares. Citigroup decreased their target price on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Scotiabank lowered their target price on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating for the company in a report on Thursday, June 5th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Barclays reaffirmed an "underweight" rating and issued a $18.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $20.50.

Plains All American Pipeline Trading Up 1.7%

Shares of PAA stock traded up $0.31 on Thursday, hitting $18.26. The company had a trading volume of 2,153,204 shares, compared to its average volume of 3,236,599. Plains All American Pipeline, L.P. has a twelve month low of $15.58 and a twelve month high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $12.84 billion, a P/E ratio of 25.01 and a beta of 0.66. The stock's 50-day moving average is $17.37 and its two-hundred day moving average is $18.41.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released 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 company posted $0.41 EPS. The company's quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

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