Pin Oak Investment Advisors Inc. Purchases Shares of 27,017 Plains All American Pipeline Lp $PAA

Pin Oak Investment Advisors Inc. acquired a new position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,017 shares of the company’s stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pointe Capital Management LLC bought a new position in shares of Plains All American Pipeline in the second quarter worth approximately $210,000. RR Advisors LLC bought a new stake in Plains All American Pipeline during the second quarter valued at approximately $1,392,000. Pinnacle Holdings LLC purchased a new position in Plains All American Pipeline in the 2nd quarter worth approximately $119,000. Allied Private Wealth LLC bought a new position in shares of Plains All American Pipeline in the 2nd quarter worth $33,000. Finally, Apella Capital LLC increased its holdings in shares of Plains All American Pipeline by 6.2% in the 2nd quarter. Apella Capital LLC now owns 35,769 shares of the company’s stock worth $811,000 after buying an additional 2,080 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA stock opened at $25.48 on Friday. The firm has a market cap of $17.98 billion, a P/E ratio of 7.06, a P/E/G ratio of 8.83 and a beta of 0.50. The firm’s fifty day moving average is $23.58 and its 200 day moving average is $22.45. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $25.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The business had revenue of $17.69 billion during the quarter. During the same period in the previous year, the company earned $0.36 earnings per share. The firm’s revenue was up 66.3% compared to the same quarter last year. Research analysts predict that Plains All American Pipeline Lp will post 1.77 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.4175 per share. The ex-dividend date was Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 6.6%. Plains All American Pipeline’s dividend payout ratio is currently 46.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PAA. Zacks Research raised shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Barclays increased their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Morgan Stanley upped their price objective on Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Finally, Truist Financial increased their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.54.

Plains All American Pipeline Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.