Ritholtz Wealth Management Invests $302,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Ritholtz Wealth Management bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,100 shares of the pipeline company’s stock, valued at approximately $302,000.

A number of other hedge funds have also modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of Plains All American Pipeline by 4.7% in the 4th quarter. Larson Financial Group LLC now owns 13,083 shares of the pipeline company’s stock worth $223,000 after buying an additional 583 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock worth $26,000 after buying an additional 657 shares in the last quarter. Capital Advisory Group Advisory Services LLC raised its holdings in shares of Plains All American Pipeline by 2.5% in the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company’s stock worth $569,000 after buying an additional 685 shares in the last quarter. World Investment Advisors raised its holdings in shares of Plains All American Pipeline by 4.2% in the 4th quarter. World Investment Advisors now owns 21,100 shares of the pipeline company’s stock worth $360,000 after buying an additional 850 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Plains All American Pipeline by 0.8% in the 4th quarter. US Bancorp DE now owns 126,392 shares of the pipeline company’s stock worth $2,159,000 after buying an additional 1,003 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 0.2%

Shares of PAA opened at $18.44 on Friday. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 25.26 and a beta of 0.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business’s fifty day moving average price is $17.32 and its two-hundred day moving average price is $18.41. Plains All American Pipeline, L.P. has a 52 week low of $15.58 and a 52 week high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. On average, analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were given a $0.38 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.24%. Plains All American Pipeline’s payout ratio is 163.44%.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of research analyst reports. Mizuho set a $22.00 price target on Plains All American Pipeline and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Morgan Stanley restated an “equal weight” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.50.

Plains All American Pipeline Profile

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.