Exchange Traded Concepts LLC Has $10.16 Million Stock Holdings in Plains All American Pipeline Lp $PAA

Exchange Traded Concepts LLC boosted its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 565,617 shares of the company’s stock after purchasing an additional 98,666 shares during the period. Exchange Traded Concepts LLC owned about 0.08% of Plains All American Pipeline worth $10,158,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in shares of Plains All American Pipeline during the third quarter worth $33,000. Caldwell Trust Co acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at $38,000. Aventura Private Wealth LLC bought a new stake in Plains All American Pipeline during the 4th quarter worth $42,000. Global Retirement Partners LLC grew its position in Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock worth $44,000 after acquiring an additional 2,128 shares during the last quarter. Finally, Fulcrum Asset Management LLP acquired a new position in Plains All American Pipeline in the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PAA shares. Wells Fargo & Company increased their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Barclays boosted their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Stifel Nicolaus raised their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Plains All American Pipeline in a research report on Monday, December 29th. Finally, Mizuho set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.85.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $22.44 on Monday. The firm has a market cap of $15.83 billion, a P/E ratio of 13.52, a PEG ratio of 3.51 and a beta of 0.58. Plains All American Pipeline Lp has a 12 month low of $15.57 and a 12 month high of $22.79. The stock’s 50-day moving average is $20.61. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.92.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. During the same period last year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $0.4175 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.4%. Plains All American Pipeline’s dividend payout ratio is presently 100.60%.

Plains All American Pipeline Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.