CAPROCK Group Inc. increased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 10.5% during the first quarter, Holdings Channel reports. The institutional investor owned 19,243 shares of the pipeline company’s stock after buying an additional 1,831 shares during the period. CAPROCK Group Inc.’s holdings in Plains All American Pipeline, L.P. were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PAA. MCF Advisors LLC raised its stake in shares of Plains All American Pipeline, L.P. by 2.0% in the third quarter. MCF Advisors LLC now owns 3,789 shares of the pipeline company’s stock worth $119,000 after buying an additional 75 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Plains All American Pipeline, L.P. during the fourth quarter worth about $150,000. LGL Partners LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the fourth quarter worth about $199,000. Americafirst Capital Management LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the first quarter worth about $199,000. Finally, Arcus Capital Partners LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the third quarter worth about $202,000. 68.61% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) traded down 1.55% during trading on Friday, hitting $29.91. 2,572,150 shares of the stock traded hands. The company has a market cap of $20.19 billion, a P/E ratio of 69.56 and a beta of 0.87. The company’s 50 day moving average price is $31.35 and its 200 day moving average price is $31.54. Plains All American Pipeline, L.P. has a 12 month low of $20.53 and a 12 month high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its quarterly earnings results on Tuesday, February 7th. The pipeline company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.10. Plains All American Pipeline, L.P. had a net margin of 3.60% and a return on equity of 11.52%. The business earned $5.95 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post $1.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 1st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.36%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 536.59%.

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A number of analysts have recently issued reports on PAA shares. Stifel Nicolaus boosted their target price on shares of Plains All American Pipeline, L.P. to $32.00 in a research note on Thursday, February 9th. Scotiabank restated a “buy” rating and issued a $36.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Thursday, March 23rd. Zacks Investment Research upgraded Plains All American Pipeline, L.P. from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, January 4th. Barclays PLC restated an “equal weight” rating and issued a $31.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Thursday, March 30th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $29.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Friday, January 6th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Plains All American Pipeline, L.P. has a consensus rating of “Hold” and a consensus price target of $32.82.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

5 Day Chart for NYSE:PAA

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