10,899 Shares in Plains All American Pipeline, L.P. (NYSE:PAA) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,899 shares of the pipeline company’s stock, valued at approximately $218,000.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 657 shares during the last quarter. National Bank of Canada FI acquired a new position in Plains All American Pipeline in the 4th quarter valued at $27,000. Jones Financial Companies Lllp grew its holdings in Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after buying an additional 3,368 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in Plains All American Pipeline in the 4th quarter valued at $97,000. Finally, Physician Wealth Advisors Inc. acquired a new position in Plains All American Pipeline in the 4th quarter valued at $163,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

PAA opened at $18.43 on Friday. The firm has a market cap of $12.96 billion, a P/E ratio of 25.25 and a beta of 0.68. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business’s fifty day moving average is $17.43 and its 200-day moving average is $18.43.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 annualized dividend and a dividend yield of 8.25%. Plains All American Pipeline’s dividend payout ratio is currently 163.44%.

Analysts Set New Price Targets

A number of brokerages have commented on PAA. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 9th. Scotiabank decreased their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 5th. Barclays reaffirmed an “underweight” rating and issued a $18.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Wall Street Zen raised Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and an average price target of $20.36.

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.