Custom Index Systems LLC Makes New Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Custom Index Systems LLC bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 100,728 shares of the pipeline company's stock, valued at approximately $1,526,000. Plains All American Pipeline accounts for about 0.9% of Custom Index Systems LLC's investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IFP Advisors Inc increased its stake in shares of Plains All American Pipeline by 14.8% during the third quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company's stock valued at $80,000 after buying an additional 674 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Plains All American Pipeline by 1.1% during the first quarter. Commonwealth Equity Services LLC now owns 92,381 shares of the pipeline company's stock valued at $1,152,000 after buying an additional 976 shares during the period. Captrust Financial Advisors increased its stake in shares of Plains All American Pipeline by 2.2% during the fourth quarter. Captrust Financial Advisors now owns 49,914 shares of the pipeline company's stock valued at $587,000 after buying an additional 1,060 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Plains All American Pipeline by 1.2% during the third quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company's stock valued at $1,411,000 after buying an additional 1,089 shares during the period. Finally, Wealth Alliance Advisory Group LLC increased its stake in shares of Plains All American Pipeline by 1.3% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company's stock valued at $1,268,000 after buying an additional 1,112 shares during the period. Hedge funds and other institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Stock Down 2.2 %

NYSE PAA traded down $0.40 during trading on Wednesday, hitting $18.13. The company's stock had a trading volume of 5,996,764 shares, compared to its average volume of 3,231,173. The company has a market cap of $12.71 billion, a PE ratio of 13.33 and a beta of 1.59. Plains All American Pipeline, L.P. has a fifty-two week low of $12.07 and a fifty-two week high of $19.03. The business's 50 day simple moving average is $16.67 and its 200-day simple moving average is $15.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.00%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline's payout ratio is 91.37%.

Wall Street Analyst Weigh In

PAA has been the topic of several analyst reports. Truist Financial lifted their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, March 19th. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday. They issued a "sector outperform" rating and a $23.00 target price on the stock. Citigroup lifted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a "neutral" rating in a research note on Friday, March 1st. Finally, StockNews.com upgraded Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.10.

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.

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