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

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

A number of other hedge funds have also bought and sold shares of PAA. Farther Finance Advisors LLC increased its position in Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after buying an additional 657 shares during the last quarter. National Bank of Canada FI purchased a new stake in Plains All American Pipeline in the fourth quarter worth $27,000. North Capital Inc. purchased a new stake in Plains All American Pipeline in the first quarter worth $61,000. Creative Financial Designs Inc. ADV purchased a new stake in Plains All American Pipeline in the first quarter worth $68,000. Finally, Jones Financial Companies Lllp increased its position in Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after buying an additional 3,368 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PAA has been the subject of a number of recent research reports. Mizuho set a $22.00 target price on Plains All American Pipeline and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Barclays reiterated an "underweight" rating and issued a $18.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the company a "buy" rating in a research note on Tuesday. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating 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 given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.75.

Plains All American Pipeline Trading Up 0.4%

PAA traded up $0.08 during midday trading on Thursday, reaching $18.75. 1,335,969 shares of the company's stock traded hands, compared to its average volume of 3,246,284. The firm has a fifty day moving average of $17.72 and a two-hundred day moving average of $18.54. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 25.68 and a beta of 0.68. 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, L.P. has a 52 week low of $15.58 and a 52 week high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released 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%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. On average, equities 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.11%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's payout ratio is 163.44%.

Plains All American Pipeline 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.