Eagle Global Advisors LLC Acquires 68,810 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Eagle Global Advisors LLC grew its position in Plains All American Pipeline, L.P. (NYSE:PAAFree Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,931,137 shares of the pipeline company’s stock after purchasing an additional 68,810 shares during the period. Plains All American Pipeline comprises about 3.6% of Eagle Global Advisors LLC’s portfolio, making the stock its 6th largest position. Eagle Global Advisors LLC owned about 0.56% of Plains All American Pipeline worth $59,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Plains All American Pipeline during the fourth quarter valued at about $39,000. Provence Wealth Management Group bought a new position in Plains All American Pipeline during the third quarter worth about $62,000. Turtle Creek Wealth Advisors LLC bought a new position in Plains All American Pipeline during the fourth quarter worth about $104,000. Archer Investment Corp bought a new position in Plains All American Pipeline during the third quarter worth about $123,000. Finally, Principal Securities Inc. bought a new position in Plains All American Pipeline during the fourth quarter worth about $138,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA traded down $0.04 during trading on Friday, reaching $17.05. 1,449,488 shares of the company traded hands, compared to its average volume of 3,305,829. The firm has a fifty day simple moving average of $17.60 and a 200 day simple moving average of $16.33. Plains All American Pipeline, L.P. has a 12-month low of $12.85 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 company has a market cap of $11.95 billion, a P/E ratio of 14.70 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAAGet Free Report) last posted its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. Plains All American Pipeline’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend was Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Analyst Ratings Changes

A number of equities analysts have weighed in on PAA shares. Stifel Nicolaus increased their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. UBS Group increased their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Truist Financial increased their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Royal Bank of Canada increased their price target on shares of 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. Finally, Citigroup increased their price target on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.23.

View Our Latest Stock Report on Plains All American Pipeline

Plains All American Pipeline Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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