Fortem Financial Group LLC Has $1.62 Million Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Fortem Financial Group LLC raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAAFree Report) by 22.4% in the first quarter, HoldingsChannel.com reports. The firm owned 81,154 shares of the pipeline company’s stock after purchasing an additional 14,876 shares during the quarter. Fortem Financial Group LLC’s holdings in Plains All American Pipeline were worth $1,623,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PAA. Farther Finance Advisors LLC boosted its stake in shares of Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 657 shares during the last quarter. Capital Advisory Group Advisory Services LLC lifted its holdings in Plains All American Pipeline by 2.5% in the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company’s stock valued at $569,000 after buying an additional 685 shares during the period. Clarus Group Inc. boosted its position in Plains All American Pipeline by 0.9% during the first quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company’s stock valued at $1,847,000 after acquiring an additional 803 shares during the last quarter. World Investment Advisors grew its holdings in Plains All American Pipeline by 4.2% during the 4th quarter. World Investment Advisors now owns 21,100 shares of the pipeline company’s stock worth $360,000 after acquiring an additional 850 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its holdings in Plains All American Pipeline by 3.3% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 28,866 shares of the pipeline company’s stock worth $577,000 after acquiring an additional 911 shares during the period. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 16th. Scotiabank reduced their price objective on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 5th. Barclays reissued an “underweight” rating and set a $18.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Finally, Mizuho set a $22.00 target price on Plains All American Pipeline and gave the company an “outperform” rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus target price of $20.36.

Read Our Latest Stock Report on PAA

Plains All American Pipeline Stock Performance

NYSE PAA opened at $18.88 on Friday. 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 debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company has a fifty day moving average price of $17.55 and a 200-day moving average price of $18.49. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 25.86 and a beta of 0.68.

Plains All American Pipeline (NYSE:PAAGet Free Report) last issued its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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%. During the same period in the prior year, the business earned $0.41 EPS. Plains All American Pipeline’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.05%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 163.44%.

About Plains All American Pipeline

(Free Report)

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.

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

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