Plains All American Pipeline Lp $PAA Shares Purchased by Callodine Capital Management LP

Callodine Capital Management LP grew its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 33.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the company’s stock after buying an additional 50,000 shares during the period. Callodine Capital Management LP’s holdings in Plains All American Pipeline were worth $4,466,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. boosted its holdings in Plains All American Pipeline by 40.7% in the fourth 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 period. Fulcrum Asset Management LLP bought a new stake in Plains All American Pipeline during the third quarter valued at $50,000. Farther Finance Advisors LLC raised its holdings in shares of Plains All American Pipeline by 342.7% during the fourth 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 during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Plains All American Pipeline by 93.2% during the second quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock worth $78,000 after purchasing an additional 2,041 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Down 0.4%

PAA opened at $24.60 on Friday. The stock’s 50 day moving average price is $22.87 and its 200 day moving average price is $21.57. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a market cap of $17.36 billion, a P/E ratio of 18.78, a P/E/G ratio of 9.71 and a beta of 0.50. Plains All American Pipeline Lp has a 12 month low of $15.69 and a 12 month high of $24.87.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 6.8%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.48%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PAA. US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Morgan Stanley upped their target price on 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. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Mizuho upped their price objective on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Scotiabank raised their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average target price of $23.23.

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.