Cetera Advisors LLC boosted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating) by 16.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,175 shares of the pipeline company's stock after buying an additional 2,984 shares during the period. Cetera Advisors LLC's holdings in Plains All American Pipeline were worth $228,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. City State Bank purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth about $28,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at about $34,000. Confluence Wealth Services Inc. purchased a new stake in shares of Plains All American Pipeline during the 4th quarter valued at about $37,000. TCI Wealth Advisors Inc. purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at about $39,000. Finally, Interactive Financial Advisors purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at about $50,000. 41.52% of the stock is owned by institutional investors and hedge funds.
Get Plains All American Pipeline alerts:Insider Activity
In other Plains All American Pipeline news, Director Kevin S. Mccarthy purchased 200,000 shares of the stock in a transaction dated Thursday, June 23rd. The shares were acquired at an average price of $9.81 per share, for a total transaction of $1,962,000.00. Following the completion of the acquisition, the director now owns 200,000 shares of the company's stock, valued at approximately $1,962,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by corporate insiders.
Plains All American Pipeline Stock Down 1.5 %
Shares of Plains All American Pipeline stock opened at $11.66 on Wednesday. The stock's fifty day moving average is $10.87 and its 200-day moving average is $10.85. The firm has a market capitalization of $8.22 billion, a PE ratio of 14.22 and a beta of 1.73. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. Plains All American Pipeline, L.P. has a 12-month low of $8.64 and a 12-month high of $12.57.Plains All American Pipeline (NYSE:PAA – Get Rating) last announced its earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.50% and a net margin of 1.36%. During the same quarter last year, the firm earned $0.23 EPS. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.1 earnings per share for the current year.
Plains All American Pipeline Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.2175 per share. The ex-dividend date was Thursday, July 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 7.46%. Plains All American Pipeline's dividend payout ratio is 106.10%.
Analysts Set New Price Targets
Several equities research analysts recently commented on PAA shares. Barclays raised their target price on Plains All American Pipeline from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Tuesday, August 16th. Seaport Res Ptn upgraded Plains All American Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, August 1st. Stifel Nicolaus upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Sunday, August 14th. Credit Suisse Group upgraded Plains All American Pipeline from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $13.00 to $14.00 in a research report on Thursday, May 12th. Finally, Wolfe Research lowered Plains All American Pipeline from an "outperform" rating to a "peer perform" rating in a research report on Monday, August 1st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.38.
About Plains All American Pipeline
(Get Rating)
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 NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.
Read More
- Get a free copy of the StockNews.com research report on Plains All American Pipeline (PAA)
- 3 Low Beta Defensive Stocks for a Tough Market
- It Could Be a September to Remember for These 3 Stocks
- Peak Inflation Sets the Bottom for Brinker International Stock
- Can Roblox Reverse its Falling Bookings Amid Rising Engagements
- Broadcom Bounces From Institutional Bottom
Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating).
Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.