Angeles Wealth Management LLC Buys Shares of 192,807 Plains All American Pipeline Lp $PAA

Angeles Wealth Management LLC purchased a new stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 192,807 shares of the company’s stock, valued at approximately $4,305,000.

Other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new stake in shares of Plains All American Pipeline during the first quarter worth $27,000. Newbridge Financial Services Group Inc. increased its position in Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after purchasing an additional 655 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in Plains All American Pipeline in the 4th quarter worth about $42,000. Fulcrum Asset Management LLP purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $50,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after purchasing an additional 3,149 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Shares of NASDAQ:PAA opened at $23.75 on Friday. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 10.77 and a beta of 0.50. The business has a 50 day moving average price of $22.60 and a 200 day moving average price of $21.32. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. Plains All American Pipeline Lp has a twelve month low of $15.69 and a twelve month high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business had revenue of $12.47 billion during the quarter. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Plains All American Pipeline Lp will post 1.55 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.4175 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 7.0%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.48%.

Wall Street Analyst Weigh In

PAA has been the subject of several research reports. Zacks Research lowered Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Scotiabank raised their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Barclays lifted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Finally, Morgan Stanley raised their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.08.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.