Sunbelt Securities Inc. Buys 21,028 Shares of Plains All American Pipeline Lp $PAA

Sunbelt Securities Inc. boosted its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 62.6% during the 1st quarter, Holdings Channel reports. The firm owned 54,597 shares of the company’s stock after buying an additional 21,028 shares during the quarter. Sunbelt Securities Inc.’s holdings in Plains All American Pipeline were worth $1,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Financial Life Planners purchased a new position in shares of Plains All American Pipeline during the first quarter valued at about $27,000. Newbridge Financial Services Group Inc. lifted its position in shares of 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 buying an additional 655 shares in the last quarter. 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 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 valued at $73,000 after buying an additional 3,149 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake 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 valued at $78,000 after buying an additional 2,041 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PAA shares. Morgan Stanley lifted their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research report on Tuesday, June 16th. Wells Fargo & Company boosted their price target on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Zacks Research downgraded shares of Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Finally, Mizuho increased their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.23.

Plains All American Pipeline Trading Up 1.9%

Shares of NASDAQ PAA opened at $24.89 on Thursday. Plains All American Pipeline Lp has a fifty-two week low of $15.69 and a fifty-two week high of $25.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 9.69 and a beta of 0.50. The business’s 50 day moving average price is $22.94 and its 200-day moving average price is $21.72.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings data 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 net margin of 2.53% and a return on equity of 12.17%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, sell-side analysts expect that Plains All American Pipeline Lp will post 1.55 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, July 31st. Plains All American Pipeline’s payout ratio is currently 127.48%.

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.