Plains All American Pipeline Lp $PAA Stock Bought by Hengehold Capital Management LLC

Hengehold Capital Management LLC raised its position in Plains All American Pipeline Lp (NASDAQ:PAA) by 56.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,879 shares of the company’s stock after buying an additional 62,188 shares during the period. Hengehold Capital Management LLC’s holdings in Plains All American Pipeline were worth $4,077,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Financial Life Planners purchased a new stake in shares of Plains All American Pipeline during the first quarter worth about $27,000. Allied Private Wealth LLC acquired a new position in shares of Plains All American Pipeline in the second quarter worth about $33,000. Bullseye Investment Management LLC acquired a new position in shares of Plains All American Pipeline in the second quarter worth about $44,000. Scarborough Advisors LLC purchased a new position in Plains All American Pipeline in the first quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Plains All American Pipeline by 1,164.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock valued at $85,000 after purchasing an additional 3,494 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 0.4%

Shares of PAA stock traded up $0.10 during trading hours on Friday, hitting $25.25. 3,050,918 shares of the company were exchanged, compared to its average volume of 2,441,320. 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 Lp has a one year low of $15.79 and a one year high of $26.39. The business’s 50-day simple moving average is $24.77 and its two-hundred day simple moving average is $23.39. The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 8.98 and a beta of 0.57.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The firm had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The business’s quarterly revenue was up 66.3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. Sell-side analysts predict that Plains All American Pipeline Lp will post 1.72 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 46.26%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PAA. Scotiabank restated an “outperform” rating and set a $28.00 price objective on shares of Plains All American Pipeline in a research note on Thursday. Weiss Ratings lowered Plains All American Pipeline from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. UBS Group increased their target price on Plains All American Pipeline from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, October 9th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $27.00 price target on shares of Plains All American Pipeline in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.80.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.