Axxcess Wealth Management LLC Grows Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Axxcess Wealth Management LLC lifted its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,910 shares of the pipeline company’s stock after buying an additional 1,195 shares during the period. Axxcess Wealth Management LLC’s holdings in Plains All American Pipeline were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its stake in Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after purchasing an additional 8,406,683 shares in the last quarter. Blackstone Inc. boosted its stake in Plains All American Pipeline by 131.6% during the third quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock worth $371,771,000 after buying an additional 13,787,485 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Plains All American Pipeline by 9.6% in the 4th 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 buying an additional 1,135,737 shares in the last quarter. Pathstone Family Office LLC increased its stake in shares of Plains All American Pipeline by 2.4% in the 3rd quarter. Pathstone Family Office LLC now owns 3,867,152 shares of the pipeline company’s stock worth $59,245,000 after acquiring an additional 89,124 shares during the last quarter. Finally, ING Groep NV raised its holdings in shares of Plains All American Pipeline by 12.2% during the 3rd quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock worth $46,628,000 after acquiring an additional 332,000 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

PAA stock opened at $17.49 on Wednesday. The business’s fifty day moving average price is $17.42 and its 200 day moving average price is $16.18. Plains All American Pipeline, L.P. has a 12-month low of $12.50 and a 12-month high of $19.03. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $12.26 billion, a PE ratio of 15.08 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. Plains All American Pipeline’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.26%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is currently 109.48%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAA. The Goldman Sachs Group upped 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 report on Friday, April 12th. TD Securities raised their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday. Stifel Nicolaus upped their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup raised their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, UBS Group upped their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.08.

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.