Plains All American Pipeline, L.P. (PAA) Stake Lifted by Spirit of America Management Corp NY

Share on StockTwits

Spirit of America Management Corp NY lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,049 shares of the pipeline company’s stock after acquiring an additional 85,000 shares during the period. Plains All American Pipeline accounts for about 1.8% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 17th largest position. Spirit of America Management Corp NY’s holdings in Plains All American Pipeline were worth $12,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. LSP Investment Advisors LLC increased its position in Plains All American Pipeline by 4.0% during the 4th quarter. LSP Investment Advisors LLC now owns 1,188,797 shares of the pipeline company’s stock worth $23,823,000 after purchasing an additional 45,685 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Plains All American Pipeline by 2.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,099,300 shares of the pipeline company’s stock worth $22,030,000 after purchasing an additional 27,100 shares in the last quarter. BlackRock Inc. increased its position in Plains All American Pipeline by 7.4% during the 3rd quarter. BlackRock Inc. now owns 2,849,598 shares of the pipeline company’s stock worth $71,268,000 after purchasing an additional 195,398 shares in the last quarter. Narwhal Capital Management increased its position in Plains All American Pipeline by 4.5% during the 4th quarter. Narwhal Capital Management now owns 23,075 shares of the pipeline company’s stock worth $462,000 after purchasing an additional 1,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth approximately $2,814,000. Institutional investors and hedge funds own 47.67% of the company’s stock.

A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Evercore ISI assumed coverage on shares of Plains All American Pipeline in a research report on Tuesday, February 5th. They set a $24.00 target price for the company. Tudor Pickering raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Wednesday, February 6th. Jefferies Financial Group raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Finally, Goldman Sachs Group raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the stock. Plains All American Pipeline has an average rating of “Buy” and an average price target of $28.33.

NYSE:PAA traded up $0.31 during trading hours on Wednesday, hitting $24.61. The stock had a trading volume of 626,132 shares, compared to its average volume of 1,625,902. The company has a quick ratio of 0.84, a current ratio of 1.02 and a debt-to-equity ratio of 0.94. Plains All American Pipeline, L.P. has a 1-year low of $19.33 and a 1-year high of $27.70. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 13.09 and a beta of 1.09.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Plains All American Pipeline had a net margin of 6.50% and a return on equity of 18.87%. The company had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter last year, the company earned $0.26 earnings per share. Plains All American Pipeline’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.36 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is 63.83%.

COPYRIGHT VIOLATION WARNING: “Plains All American Pipeline, L.P. (PAA) Stake Lifted by Spirit of America Management Corp NY” was originally reported by Zolmax and is the sole property of of Zolmax. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://zolmax.com/investing/plains-all-american-pipeline-l-p-paa-stake-lifted-by-spirit-of-america-management-corp-ny/3042044.html.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

Featured Article: How do buyers and sellers choose a strike price?

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).

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

Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

ZoomAway Travel  Trading 66.7% Higher
ZoomAway Travel Trading 66.7% Higher
KINGFISHER PLC/SH  Raised to “Hold” at Zacks Investment Research
KINGFISHER PLC/SH Raised to “Hold” at Zacks Investment Research
Rurelec  Stock Price Down 17.6%
Rurelec Stock Price Down 17.6%
Hitachi  Stock Rating Upgraded by Zacks Investment Research
Hitachi Stock Rating Upgraded by Zacks Investment Research
ESSILOR INTL S/S  Downgraded to Sell at Zacks Investment Research
ESSILOR INTL S/S Downgraded to Sell at Zacks Investment Research
Q2 2019 EPS Estimates for Callon Petroleum Increased by Piper Jaffray Companies
Q2 2019 EPS Estimates for Callon Petroleum Increased by Piper Jaffray Companies


 
© 2006-2019 Zolmax.