Naviter Wealth LLC Invests $291,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Naviter Wealth LLC purchased a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,413 shares of the pipeline company’s stock, valued at approximately $291,000.

A number of other hedge funds also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of Plains All American Pipeline by 4.6% during the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock worth $475,301,000 after purchasing an additional 1,224,381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Plains All American Pipeline by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock worth $261,283,000 after purchasing an additional 1,211,286 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock valued at $227,539,000 after buying an additional 75,509 shares during the period. JPMorgan Chase & Co. lifted its holdings in Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after buying an additional 630,141 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in Plains All American Pipeline by 30.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after buying an additional 1,162,933 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

PAA opened at $18.26 on Monday. Plains All American Pipeline, L.P. has a 1-year low of $15.58 and a 1-year high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.84 billion, a P/E ratio of 25.01 and a beta of 0.66. The company has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $18.42.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.39 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 firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.32%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline’s payout ratio is presently 163.44%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 target price on shares of Plains All American Pipeline in a report on Friday, May 16th. Citigroup dropped their target price on shares of Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the company an “outperform” rating in a report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.50.

Plains All American Pipeline 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.