NEOS Investment Management LLC boosted its holdings in Plains All American Pipeline Lp (NASDAQ:PAA – Free Report) by 34.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 774,913 shares of the company’s stock after acquiring an additional 199,296 shares during the period. NEOS Investment Management LLC’s holdings in Plains All American Pipeline were worth $17,250,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PAA. Financial Life Planners acquired a new position in Plains All American Pipeline in the first quarter valued at about $27,000. Allied Private Wealth LLC acquired a new position in shares of Plains All American Pipeline in the second quarter valued at approximately $33,000. Fulcrum Asset Management LLP bought a new position in Plains All American Pipeline during the 3rd quarter worth $50,000. Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Plains All American Pipeline by 1,164.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock valued at $85,000 after acquiring an additional 3,494 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on PAA. Royal Bank Of Canada boosted their price objective on Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, August 17th. Barclays upped their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Zacks Research upgraded Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. JPMorgan Chase & Co. lifted their price target on Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.08.
Plains All American Pipeline Stock Performance
NASDAQ:PAA opened at $25.70 on Friday. The company has a market capitalization of $18.13 billion, a P/E ratio of 7.12, a P/E/G ratio of 8.83 and a beta of 0.52. Plains All American Pipeline Lp has a 1 year low of $15.69 and a 1 year high of $25.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The business has a fifty day simple moving average of $23.98 and a two-hundred day simple moving average of $22.66.
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business had revenue of $17.69 billion during the quarter. During the same period last year, the company earned $0.36 EPS. The company’s quarterly revenue was up 66.3% compared to the same quarter last year. On average, analysts expect that Plains All American Pipeline Lp will post 1.77 earnings per share for the current year.
Plains All American Pipeline Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 6.5%. The ex-dividend date was Friday, July 31st. Plains All American Pipeline’s payout ratio is presently 46.26%.
Plains All American Pipeline Profile
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.
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