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Miller Howard Investments Inc. NY Acquires 99,915 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Plains All American Pipeline logo with Oils/Energy background

Miller Howard Investments Inc. NY boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,499,924 shares of the pipeline company's stock after acquiring an additional 99,915 shares during the quarter. Miller Howard Investments Inc. NY owned 0.36% of Plains All American Pipeline worth $43,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. bought a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $76,000. Walnut Private Equity Partners LLC lifted its holdings in shares of Plains All American Pipeline by 2.6% during the first quarter. Walnut Private Equity Partners LLC now owns 400,000 shares of the pipeline company's stock valued at $7,024,000 after acquiring an additional 10,000 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Plains All American Pipeline by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 201,893 shares of the pipeline company's stock valued at $3,059,000 after purchasing an additional 2,687 shares in the last quarter. MONECO Advisors LLC bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth about $1,008,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth about $165,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PAA shares. StockNews.com lowered shares of Plains All American Pipeline from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 2nd. Citigroup increased their price target on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 6th. Scotiabank started coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a "sector outperform" rating and a $23.00 price objective for the company. Morgan Stanley increased their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group lifted their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the company a "sell" rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.38.


View Our Latest Research Report on Plains All American Pipeline

Plains All American Pipeline Stock Up 2.6 %

PAA stock traded up $0.45 during midday trading on Monday, hitting $17.57. The company's stock had a trading volume of 3,657,094 shares, compared to its average volume of 3,076,840. The company's fifty day moving average price is $17.27 and its 200 day moving average price is $16.56. Plains All American Pipeline, L.P. has a twelve month low of $13.30 and a twelve month high of $19.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88. The stock has a market capitalization of $12.32 billion, a P/E ratio of 15.15 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. Plains All American Pipeline's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.29 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend was Tuesday, April 30th. Plains All American Pipeline's dividend payout ratio (DPR) is currently 109.48%.

Plains All American Pipeline Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAA - Free Report).

Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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