Wedbush Securities Inc. Raises Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Wedbush Securities Inc. boosted its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 16.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,188 shares of the pipeline company’s stock after purchasing an additional 3,334 shares during the quarter. Wedbush Securities Inc.’s holdings in Plains All American Pipeline were worth $414,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Blackstone Inc. increased its position in Plains All American Pipeline by 1.4% during the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock worth $413,345,000 after purchasing an additional 318,944 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Plains All American Pipeline by 0.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares during the last quarter. UBS Group AG grew its stake in shares of Plains All American Pipeline by 89.3% during the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after buying an additional 4,035,328 shares during the period. Eagle Global Advisors LLC increased its holdings in shares of Plains All American Pipeline by 1.8% during the 4th quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock worth $59,557,000 after buying an additional 68,810 shares during the last quarter. Finally, ING Groep NV raised its position in shares of Plains All American Pipeline by 1.9% in the 4th quarter. ING Groep NV now owns 3,100,600 shares of the pipeline company’s stock worth $47,005,000 after buying an additional 57,000 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PAA shares. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group lifted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.64.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA opened at $17.71 on Friday. Plains All American Pipeline, L.P. has a 12-month low of $14.25 and a 12-month high of $19.17. The company has a market cap of $12.42 billion, a PE ratio of 15.27 and a beta of 1.60. The stock has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $17.55. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.17%. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

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.