Rockport Wealth LLC Takes $301,000 Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Rockport Wealth LLC bought a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,119 shares of the pipeline company’s stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Plains All American Pipeline by 9.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after purchasing an additional 1,135,737 shares during the period. UBS Group AG boosted its stake in shares of Plains All American Pipeline by 89.3% in the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after purchasing an additional 4,035,328 shares during the period. Eagle Global Advisors LLC boosted its stake in shares of Plains All American Pipeline by 1.8% in the fourth quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock valued at $59,557,000 after purchasing an additional 68,810 shares during the period. ING Groep NV boosted its stake in Plains All American Pipeline by 1.9% during the 4th quarter. ING Groep NV now owns 3,100,600 shares of the pipeline company’s stock valued at $47,005,000 after acquiring an additional 57,000 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Plains All American Pipeline by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,594,254 shares of the pipeline company’s stock valued at $39,303,000 after acquiring an additional 151,495 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Citigroup increased their price objective on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Wells Fargo & Company increased their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group increased their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.55.

Plains All American Pipeline Stock Performance

Shares of PAA stock traded down $0.05 during trading hours on Tuesday, reaching $18.98. The stock had a trading volume of 1,766,560 shares, compared to its average volume of 2,918,231. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88. Plains All American Pipeline, L.P. has a twelve month low of $14.25 and a twelve month high of $19.17. The firm has a 50-day simple moving average of $17.60 and a 200-day simple moving average of $17.05. The firm has a market capitalization of $13.31 billion, a PE ratio of 16.41 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the company earned $0.41 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.32 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.3175 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.69%. Plains All American Pipeline’s payout ratio is 109.48%.

About Plains All American Pipeline

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.