WealthTrust Axiom LLC Sells 1,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

WealthTrust Axiom LLC decreased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAAGet Rating) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,100 shares of the pipeline company’s stock after selling 1,000 shares during the quarter. WealthTrust Axiom LLC’s holdings in Plains All American Pipeline were worth $173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PAA. Invesco Ltd. grew its holdings in shares of Plains All American Pipeline by 25.6% during the fourth quarter. Invesco Ltd. now owns 12,534,975 shares of the pipeline company’s stock worth $117,077,000 after purchasing an additional 2,556,325 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Plains All American Pipeline by 35.0% during the fourth quarter. Bank of America Corp DE now owns 6,828,234 shares of the pipeline company’s stock worth $63,775,000 after purchasing an additional 1,768,949 shares in the last quarter. Fractal Investments LLC purchased a new stake in Plains All American Pipeline in the fourth quarter worth approximately $9,889,000. Alps Advisors Inc. boosted its stake in Plains All American Pipeline by 1.7% in the fourth quarter. Alps Advisors Inc. now owns 52,505,872 shares of the pipeline company’s stock worth $490,405,000 after buying an additional 880,660 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Plains All American Pipeline by 67.3% in the fourth quarter. Bank of Montreal Can now owns 1,904,590 shares of the pipeline company’s stock worth $17,655,000 after buying an additional 766,495 shares in the last quarter. Hedge funds and other institutional investors own 45.58% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $11.20 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 0.76. The company has a market cap of $7.90 billion, a PE ratio of 13.66 and a beta of 1.79. The business has a 50 day moving average of $10.60 and a 200 day moving average of $10.75. Plains All American Pipeline, L.P. has a 52 week low of $8.64 and a 52 week high of $12.10.

Plains All American Pipeline (NYSE:PAAGet Rating) last announced its earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.77% and a net margin of 1.36%. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.11 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a dividend of $0.2175 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 7.77%. Plains All American Pipeline’s dividend payout ratio is presently 106.10%.

Wall Street Analyst Weigh In

PAA has been the subject of several research reports. Wolfe Research lowered Plains All American Pipeline from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 1st. StockNews.com lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. TheStreet raised Plains All American Pipeline from a “c” rating to a “b-” rating in a research note on Thursday. Morgan Stanley upped their target price on Plains All American Pipeline from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 26th. Finally, Mizuho upped their target price on Plains All American Pipeline from $13.00 to $14.00 in a research note on Wednesday, May 11th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.18.

Insider Activity at Plains All American Pipeline

In other news, Director Kevin S. Mccarthy acquired 200,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The stock was acquired at an average price of $9.81 per share, for a total transaction of $1,962,000.00. Following the completion of the acquisition, the director now owns 200,000 shares in the company, valued at $1,962,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Plains All American Pipeline Company Profile

(Get Rating)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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

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