Apollon Wealth Management LLC Raises Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Apollon Wealth Management LLC boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,610 shares of the pipeline company’s stock after buying an additional 2,731 shares during the quarter. Apollon Wealth Management LLC’s holdings in Plains All American Pipeline were worth $810,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PAA. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline in the 3rd quarter worth about $28,000. ORG Partners LLC grew its stake in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares during the period. Evermay Wealth Management LLC bought a new stake in shares of Plains All American Pipeline during the 1st quarter valued at about $35,000. Sunbelt Securities Inc. grew its stake in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 1,318 shares during the period. Finally, American National Bank grew its stake in shares of Plains All American Pipeline by 249.2% during the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after purchasing an additional 3,110 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 0.2 %

PAA stock opened at $17.18 on Friday. Plains All American Pipeline, L.P. has a 1-year low of $14.46 and a 1-year high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.90. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 15.34 and a beta of 1.61. The business has a 50 day simple moving average of $17.34 and a two-hundred day simple moving average of $17.53.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.39%. Plains All American Pipeline’s payout ratio is 113.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America assumed coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.82.

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.