Maryland State Retirement & Pension System Acquires 6,162 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Maryland State Retirement & Pension System raised its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,300 shares of the pipeline company’s stock after purchasing an additional 6,162 shares during the period. Maryland State Retirement & Pension System owned 0.06% of Plains All American Pipeline worth $6,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the 1st quarter valued at $28,000. Fortitude Family Office LLC purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth about $39,000. Scarborough Advisors LLC bought a new position in Plains All American Pipeline during the 4th quarter valued at about $46,000. Mather Group LLC. purchased a new stake in Plains All American Pipeline in the 1st quarter worth about $76,000. Finally, Tucker Asset Management LLC bought a new stake in Plains All American Pipeline in the fourth quarter worth about $81,000. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Down 1.4 %

NYSE:PAA traded down $0.27 during midday trading on Friday, reaching $18.63. 360,168 shares of the stock traded hands, compared to its average volume of 3,005,519. The stock has a market capitalization of $13.06 billion, a PE ratio of 16.17 and a beta of 1.61. Plains All American Pipeline, L.P. has a 12-month low of $13.88 and a 12-month high of $19.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The business has a 50-day moving average of $17.33 and a two-hundred day moving average of $16.73.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the firm earned $0.41 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PAA shares. Royal Bank of Canada increased their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Citigroup raised their target price on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. StockNews.com lowered Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group increased their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company lifted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.38.

Plains All American Pipeline 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.