OppenheimerFunds Inc. increased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 901,254 shares of the pipeline company’s stock after buying an additional 8,578 shares during the period. OppenheimerFunds Inc.’s holdings in Plains All American Pipeline were worth $22,090,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisory Services LLC bought a new stake in Plains All American Pipeline in the 4th quarter valued at $28,000. Executive Wealth Management LLC bought a new stake in Plains All American Pipeline in the 4th quarter valued at $28,000. Portfolio Solutions LLC bought a new stake in Plains All American Pipeline in the 4th quarter valued at $36,000. Zions Bancorporation N.A. bought a new stake in Plains All American Pipeline in the 1st quarter valued at $48,000. Finally, Enterprise Financial Services Corp boosted its holdings in Plains All American Pipeline by 71.5% in the 1st quarter. Enterprise Financial Services Corp now owns 2,039 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 850 shares during the period. 48.43% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on PAA shares. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating in a report on Thursday. Royal Bank of Canada reduced their price target on shares of Plains All American Pipeline to $27.00 and set a “sector perform” rating for the company in a report on Friday. Finally, ValuEngine downgraded shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. Plains All American Pipeline presently has a consensus rating of “Buy” and a consensus price target of $28.20.
In other news, insider Emg Investment, Llc sold 8,179,284 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total transaction of $188,941,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
NYSE:PAA opened at $23.90 on Friday. The stock has a market cap of $16.97 billion, a PE ratio of 12.71 and a beta of 1.00. Plains All American Pipeline, L.P. has a 52 week low of $19.33 and a 52 week high of $27.70. The company has a quick ratio of 0.90, a current ratio of 1.02 and a debt-to-equity ratio of 0.91.
Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Tuesday, May 7th. The pipeline company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.77 billion. Plains All American Pipeline had a net margin of 8.51% and a return on equity of 20.70%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, equities research analysts expect that Plains All American Pipeline, L.P. will post 2.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.03%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 76.60%.
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Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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