29,317 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Bought by PFG Investments LLC

PFG Investments LLC acquired a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,317 shares of the pipeline company’s stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in shares of Plains All American Pipeline by 14.3% during the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after purchasing an additional 8,406,683 shares during the last quarter. Blackstone Inc. raised its holdings in shares of Plains All American Pipeline by 131.6% during the third quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock valued at $371,771,000 after acquiring an additional 13,787,485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Plains All American Pipeline by 9.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after acquiring an additional 1,135,737 shares in the last quarter. UBS Group AG boosted its stake in shares of Plains All American Pipeline by 89.3% in the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock worth $129,630,000 after acquiring an additional 4,035,328 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its stake in shares of Plains All American Pipeline by 1.8% in the fourth quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock worth $59,557,000 after acquiring an additional 68,810 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Up 0.9 %

NYSE:PAA traded up $0.16 on Monday, reaching $18.03. The company’s stock had a trading volume of 2,912,034 shares, compared to its average volume of 3,426,614. The stock has a 50 day moving average price of $17.30 and a 200 day moving average price of $16.10. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 12.97 and a beta of 1.59. Plains All American Pipeline, L.P. has a 12-month low of $12.07 and a 12-month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. Plains All American Pipeline’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.34 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 91.37%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PAA. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target on the stock. UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Stifel Nicolaus increased their price objective on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup boosted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Company 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.