Creekside Partners Invests $313,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Creekside Partners purchased a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,500 shares of the pipeline company’s stock, valued at approximately $313,000.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of Plains All American Pipeline by 26.5% during the second quarter. Cetera Investment Advisers now owns 198,990 shares of the pipeline company’s stock valued at $3,554,000 after purchasing an additional 41,638 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after buying an additional 1,318 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares during the last quarter. Sei Investments Co. grew its stake in shares of Plains All American Pipeline by 39.9% in the second quarter. Sei Investments Co. now owns 207,802 shares of the pipeline company’s stock worth $3,711,000 after acquiring an additional 59,293 shares during the last quarter. Finally, Bridges Investment Management Inc. grew its stake in shares of Plains All American Pipeline by 75.9% in the second quarter. Bridges Investment Management Inc. now owns 136,937 shares of the pipeline company’s stock worth $2,446,000 after acquiring an additional 59,076 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.10.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $17.34 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $17.63 and a 200-day moving average price of $17.65. Plains All American Pipeline, L.P. has a twelve month low of $14.25 and a twelve month high of $19.17. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 14.95 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.3 EPS for the current fiscal year.

About Plains All American Pipeline

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.