SG Americas Securities LLC Makes New Investment in Plains All American Pipeline Lp $PAA

SG Americas Securities LLC purchased a new stake in Plains All American Pipeline Lp (NASDAQ:PAA) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 40,657 shares of the company’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAA. Newbridge Financial Services Group Inc. raised its stake in shares of Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after buying an additional 655 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline in the fourth quarter worth about $42,000. Fulcrum Asset Management LLP purchased a new stake in shares of Plains All American Pipeline in the third quarter worth about $50,000. Farther Finance Advisors LLC boosted its stake in shares of Plains All American Pipeline by 342.7% in the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in 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 acquiring an additional 2,041 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PAA. Wells Fargo & Company boosted their price target on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Citigroup lifted their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and raised their price target for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Finally, Scotiabank lifted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.93.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $22.51 on Monday. The stock has a market capitalization of $15.88 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 10.32 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 $24.26. The business has a 50 day simple moving average of $22.43 and a 200-day simple moving average of $20.97. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88.

Plains All American Pipeline (NASDAQ:PAA) last announced its 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). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion for the quarter. During the same quarter last year, the business earned $0.39 EPS. Plains All American Pipeline’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Plains All American Pipeline Lp will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Company 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.