Turtle Creek Wealth Advisors LLC Purchases New Shares in Plains All American Pipeline, L.P. (NYSE:PAA)

Turtle Creek Wealth Advisors LLC purchased a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 33,334 shares of the pipeline company's stock, valued at approximately $667,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PAA. Farther Finance Advisors LLC increased its holdings in shares of Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the last quarter. National Bank of Canada FI bought a new position in Plains All American Pipeline in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp grew its position in Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after buying an additional 3,368 shares in the last quarter. North Capital Inc. bought a new position in Plains All American Pipeline in the 1st quarter valued at about $61,000. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $68,000. Institutional investors own 41.78% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PAA. UBS Group set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a "buy" rating in a report on Tuesday. Scotiabank reduced 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. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 9th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 16th. Finally, Mizuho set a $22.00 price objective on Plains All American Pipeline and gave the company an "outperform" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and a consensus price target of $20.75.

Plains All American Pipeline Trading Up 0.6%

Shares of PAA stock traded up $0.11 on Thursday, reaching $18.78. 583,458 shares of the stock were exchanged, compared to its average volume of 3,238,380. 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 stock has a market cap of $13.21 billion, a PE ratio of 25.72 and a beta of 0.68. The stock has a 50 day moving average price of $17.69 and a 200 day moving average price of $18.52. Plains All American Pipeline, L.P. has a one year low of $15.58 and a one year high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS 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 period in the prior year, the firm earned $0.41 earnings per share. The company's quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's payout ratio 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.