Trust Co. of Toledo NA OH Buys New Stake in Plains All American Pipeline, L.P. $PAA

Trust Co. of Toledo NA OH bought a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 50,982 shares of the pipeline company's stock, valued at approximately $934,000.

Several other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Plains All American Pipeline by 76.1% in the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 761 shares during the period. Wealthstar Advisors LLC lifted its stake in shares of Plains All American Pipeline by 10.8% in the 2nd quarter. Wealthstar Advisors LLC now owns 41,383 shares of the pipeline company's stock valued at $758,000 after purchasing an additional 4,037 shares during the period. Blair William & Co. IL lifted its stake in shares of Plains All American Pipeline by 70.6% in the 2nd quarter. Blair William & Co. IL now owns 42,440 shares of the pipeline company's stock valued at $778,000 after purchasing an additional 17,562 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Plains All American Pipeline by 6.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 418,310 shares of the pipeline company's stock valued at $7,663,000 after purchasing an additional 24,447 shares during the period. Finally, Chung Wu Investment Group LLC lifted its stake in shares of Plains All American Pipeline by 2.5% in the 2nd quarter. Chung Wu Investment Group LLC now owns 40,278 shares of the pipeline company's stock valued at $738,000 after purchasing an additional 999 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $15.85 on Friday. Plains All American Pipeline, L.P. has a 52-week low of $15.57 and a 52-week high of $21.00. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 21.71 and a beta of 0.72. The company has a fifty day simple moving average of $17.38 and a 200-day simple moving average of $17.66. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. 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 earned $0.31 earnings per share. Plains All American Pipeline's revenue was down 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.6%. Plains All American Pipeline's dividend payout ratio is presently 172.73%.

Wall Street Analysts Forecast Growth

PAA has been the subject of several recent analyst reports. Mizuho set a $22.00 price target on shares of Plains All American Pipeline and gave the stock an "outperform" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price target on shares of Plains All American Pipeline from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, September 18th. Barclays cut their price target on shares of Plains All American Pipeline from $18.00 to $17.00 and set an "underweight" rating for the company in a report on Tuesday. Scotiabank reissued an "outperform" rating on shares of Plains All American Pipeline in a report on Monday, September 8th. Finally, Morgan Stanley cut their price target on shares of Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Plains All American Pipeline presently has an average rating of "Hold" and an average price target of $20.50.

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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