Plains All American Pipeline, L.P. (PAA) is Virtus ETF Advisers LLC’s 6th Largest Position

Virtus ETF Advisers LLC raised its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,420,848 shares of the pipeline company’s stock after purchasing an additional 95,720 shares during the quarter. Plains All American Pipeline accounts for about 4.9% of Virtus ETF Advisers LLC’s portfolio, making the stock its 6th largest position. Virtus ETF Advisers LLC’s holdings in Plains All American Pipeline were worth $28,474,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. We Are One Seven LLC bought a new position in shares of Plains All American Pipeline during the 4th quarter valued at $26,000. Capital Investment Advisory Services LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at $28,000. Arlington Partners LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at $32,000. Lavaca Capital LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at $44,000. Finally, Westside Investment Management Inc. boosted its position in Plains All American Pipeline by 200.0% during the 4th quarter. Westside Investment Management Inc. now owns 3,000 shares of the pipeline company’s stock valued at $61,000 after buying an additional 2,000 shares during the period. 47.20% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the stock. Tudor Pickering raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Wednesday, February 6th. Evercore ISI assumed coverage on shares of Plains All American Pipeline in a research report on Tuesday, February 5th. They set a $24.00 price target for the company. ValuEngine raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Goldman Sachs Group raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Jefferies Financial Group raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Plains All American Pipeline currently has an average rating of “Buy” and an average target price of $28.25.

NYSE PAA traded up $0.04 during trading hours on Tuesday, reaching $23.31. 42,735 shares of the company’s stock traded hands, compared to its average volume of 3,124,682. Plains All American Pipeline, L.P. has a 52-week low of $19.33 and a 52-week high of $27.70. The stock has a market cap of $16.65 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.71.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. Plains All American Pipeline had a net margin of 6.50% and a return on equity of 19.37%. The company had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same period last year, the company posted $0.26 EPS. Plains All American Pipeline’s revenue was up 15.5% on a year-over-year basis. Research analysts expect that Plains All American Pipeline, L.P. will post 1.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.15%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 63.83%.

ILLEGAL ACTIVITY NOTICE: “Plains All American Pipeline, L.P. (PAA) is Virtus ETF Advisers LLC’s 6th Largest Position” was first reported by WKRB News and is the sole property of of WKRB News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.wkrb13.com/2019/02/12/plains-all-american-pipeline-l-p-paa-is-virtus-etf-advisers-llcs-6th-largest-position.html.

Plains All American Pipeline 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.

Read More: How to calculate the intrinsic value of a stock

Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAA).

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

Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply