Maryland State Retirement & Pension System Buys 24,447 Shares of Plains All American Pipeline, L.P. $PAA

Maryland State Retirement & Pension System increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,310 shares of the pipeline company’s stock after purchasing an additional 24,447 shares during the quarter. Maryland State Retirement & Pension System owned about 0.06% of Plains All American Pipeline worth $7,663,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Plains All American Pipeline by 31.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company’s stock valued at $879,000 after purchasing an additional 10,412 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Plains All American Pipeline by 5.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company’s stock valued at $1,127,000 after buying an additional 2,891 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Plains All American Pipeline by 32.1% in the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company’s stock valued at $566,000 after buying an additional 6,874 shares during the period. Adams Asset Advisors LLC lifted its holdings in Plains All American Pipeline by 3.2% in the second quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock valued at $14,435,000 after buying an additional 24,750 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in Plains All American Pipeline in the first quarter valued at approximately $218,000. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Trading Down 1.4%

Shares of NYSE:PAA opened at $16.44 on Thursday. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $17.46 and its 200 day simple moving average is $17.74. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 22.52 and a beta of 0.72.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter last year, the business earned $0.31 EPS. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Friday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 172.73%.

Analyst Ratings Changes

PAA has been the topic of several analyst reports. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a report on Friday, August 8th. Morgan Stanley cut their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a report on Monday, August 11th. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, September 8th. Finally, Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an “outperform” rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

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.