Janney Montgomery Scott LLC Has $2.04 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Janney Montgomery Scott LLC lessened its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 4.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 101,863 shares of the pipeline company’s stock after selling 4,485 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Plains All American Pipeline were worth $2,037,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PAA. Farther Finance Advisors LLC raised its position 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 valued at $26,000 after buying an additional 657 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Plains All American Pipeline during the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its holdings in Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after acquiring an additional 3,368 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Plains All American Pipeline during the 4th quarter worth approximately $97,000. Finally, Physician Wealth Advisors Inc. bought a new stake in Plains All American Pipeline during the 4th quarter worth approximately $163,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.7%

Shares of PAA opened at $18.26 on Friday. The firm’s 50 day simple moving average is $17.37 and its 200 day simple moving average is $18.41. The company has a market capitalization of $12.84 billion, a P/E ratio of 25.01 and a beta of 0.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a 1-year low of $15.58 and a 1-year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share 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%. Plains All American Pipeline’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. Sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.32%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 163.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Citigroup reduced their price target on shares of Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.50.

About Plains All American Pipeline

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.