Oppenheimer Asset Management Inc. grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA – Free Report) by 15.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,306 shares of the pipeline company’s stock after purchasing an additional 11,356 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Plains All American Pipeline were worth $1,039,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. North Star Investment Management Corp. boosted its holdings in Plains All American Pipeline by 250.0% in the first quarter. North Star Investment Management Corp. now owns 2,800 shares of the pipeline company’s stock valued at $35,000 after purchasing an additional 2,000 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Plains All American Pipeline in the 1st quarter valued at about $44,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter valued at about $104,000. BDO Wealth Advisors LLC grew its position in shares of Plains All American Pipeline by 419.4% during the first quarter. BDO Wealth Advisors LLC now owns 8,310 shares of the pipeline company’s stock worth $104,000 after buying an additional 6,710 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Plains All American Pipeline during the second quarter worth approximately $116,000. Institutional investors and hedge funds own 41.79% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on PAA shares. Mizuho boosted their price target on shares of Plains All American Pipeline from $17.00 to $19.00 in a report on Wednesday, July 12th. Raymond James raised their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “strong-buy” rating in a research note on Friday, July 21st. TD Securities upped their price objective on Plains All American Pipeline from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. StockNews.com raised Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Finally, Royal Bank of Canada upped their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline currently has a consensus rating of “Moderate Buy” and an average price target of $16.46.
Plains All American Pipeline Stock Performance
Shares of PAA opened at $15.18 on Friday. The company’s 50 day simple moving average is $14.58 and its 200-day simple moving average is $13.51. The firm has a market cap of $10.60 billion, a PE ratio of 11.50 and a beta of 1.70. Plains All American Pipeline, L.P. has a 12-month low of $10.17 and a 12-month high of $15.48. The company has a current ratio of 1.00, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.
Plains All American Pipeline (NYSE:PAA – Get Free Report) last issued its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 9.89%. The company had revenue of $11.60 billion for the quarter, compared to the consensus estimate of $15.28 billion. During the same period last year, the firm posted $0.30 EPS. Plains All American Pipeline’s revenue for the quarter was down 29.1% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline, L.P. will post 1.25 EPS for the current year.
Plains All American Pipeline Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were given a dividend of $0.2675 per share. The ex-dividend date was Friday, July 28th. This represents a $1.07 dividend on an annualized basis and a yield of 7.05%. Plains All American Pipeline’s payout ratio is 66.05%.
Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.
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