Symmetry Partners LLC Invests $562,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Symmetry Partners LLC purchased a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 28,105 shares of the pipeline company's stock, valued at approximately $562,000.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in shares of 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 valued at $999,000 after buying an additional 25,013 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 3,368 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Plains All American Pipeline by 50.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,154 shares of the pipeline company's stock valued at $805,000 after purchasing an additional 15,854 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Plains All American Pipeline in the 1st quarter worth approximately $302,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Plains All American Pipeline in the fourth quarter worth approximately $11,247,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, May 9th. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research report on Wednesday, June 18th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Barclays reiterated an "underweight" rating and set a $18.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. Finally, Scotiabank cut their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.50.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock traded down $0.17 during trading on Wednesday, reaching $17.95. 5,284,660 shares of the stock traded hands, compared to its average volume of 3,232,583. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-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 business has a fifty day simple moving average of $17.35 and a two-hundred day simple moving average of $18.41. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 24.59 and a beta of 0.66.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings data 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 prior year, the company posted $0.41 earnings per share. The company's revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline's dividend payout ratio is currently 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.