Oppenheimer Asset Management Inc. Boosts Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Oppenheimer Asset Management Inc. raised its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,334 shares of the pipeline company’s stock after buying an additional 2,891 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Plains All American Pipeline were worth $1,127,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PAA. Farther Finance Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 657 shares in the last quarter. National Bank of Canada FI purchased a new position in Plains All American Pipeline in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp lifted its stake in shares of Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 3,368 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Plains All American Pipeline during the fourth quarter worth about $97,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of Plains All American Pipeline in the fourth quarter worth about $163,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PAA. Morgan Stanley reiterated an “equal weight” rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, May 9th. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. Mizuho set a $22.00 price target on shares of Plains All American Pipeline and gave the company an “outperform” rating in a report on Wednesday, June 18th. Finally, Wall Street Zen raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.50.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $18.26 on Friday. The firm has a fifty day moving average of $17.38 and a two-hundred day moving average of $18.41. The firm has a market cap of $12.84 billion, a P/E ratio of 25.01 and a beta of 0.66. Plains All American Pipeline, L.P. has a 1-year low of $15.58 and a 1-year high of $21.00. 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 (NYSE:PAA) last posted its quarterly earnings results 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 return on equity of 11.69% and a net margin of 1.54%. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given 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 was Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio is currently 163.44%.

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.