HB Wealth Management LLC Has $261,000 Position in Plains All American Pipeline, L.P. (NYSE:PAA)

HB Wealth Management LLC grew its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 9.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,599 shares of the pipeline company’s stock after buying an additional 1,308 shares during the period. HB Wealth Management LLC’s holdings in Plains All American Pipeline were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PAA. Eagle Bay Advisors LLC acquired a new position in Plains All American Pipeline in the first quarter valued at $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at about $28,000. ORG Partners LLC boosted its position in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares in the last quarter. Evermay Wealth Management LLC acquired a new stake in Plains All American Pipeline during the first quarter worth approximately $35,000. Finally, Scarborough Advisors LLC bought a new stake in Plains All American Pipeline in the fourth quarter worth approximately $46,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Trading Up 1.0 %

NYSE:PAA opened at $17.94 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90. Plains All American Pipeline, L.P. has a one year low of $14.25 and a one year high of $19.17. The company has a market cap of $12.58 billion, a PE ratio of 15.47 and a beta of 1.61. The firm has a 50-day moving average of $18.01 and a 200-day moving average of $17.44.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.3175 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 7.08%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 109.48%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PAA. Citigroup increased their price target on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. TD Securities increased their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, May 6th. Wells Fargo & Company lifted their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus target price of $19.64.

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.