PFG Investments LLC Boosts Stake in Plains All American Pipeline, L.P. $PAA

PFG Investments LLC raised its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 24.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,997 shares of the pipeline company’s stock after purchasing an additional 13,373 shares during the quarter. PFG Investments LLC’s holdings in Plains All American Pipeline were worth $1,246,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAA. Cambridge Investment Research Advisors Inc. raised its holdings in Plains All American Pipeline by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company’s stock valued at $879,000 after buying an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of 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 worth $1,127,000 after acquiring an additional 2,891 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Plains All American Pipeline by 32.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company’s stock valued at $566,000 after acquiring an additional 6,874 shares during the period. Adams Asset Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 3.2% during the 2nd quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock valued at $14,435,000 after acquiring an additional 24,750 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Plains All American Pipeline during the 1st quarter worth $218,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PAA. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the company a “neutral” rating in a research report on Friday, August 8th. Morgan Stanley dropped their target price on 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. JPMorgan Chase & Co. decreased their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and an average target price of $20.58.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $16.95 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The business has a 50 day moving average price of $17.62 and a two-hundred day moving average price of $17.83. The firm has a market cap of $11.92 billion, a PE ratio of 23.22 and a beta of 0.72.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share 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. Shareholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.0%. Plains All American Pipeline’s dividend payout ratio is currently 172.73%.

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.