Axxcess Wealth Management LLC Boosts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

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

Other large investors have also recently modified their holdings of the company. CENTRAL TRUST Co grew its position in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter worth approximately $39,000. Briaud Financial Planning Inc purchased a new position in shares of Plains All American Pipeline in the third quarter worth $58,000. Provence Wealth Management Group bought a new stake in Plains All American Pipeline during the 3rd quarter valued at $62,000. Finally, Allworth Financial LP raised its holdings in Plains All American Pipeline by 451.1% during the 3rd quarter. Allworth Financial LP now owns 6,244 shares of the pipeline company’s stock valued at $96,000 after buying an additional 5,111 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

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

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business earned $0.41 EPS. Plains All American Pipeline’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts expect that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Securities boosted their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday. Scotiabank began coverage on Plains All American Pipeline in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. The Goldman Sachs Group increased their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Citigroup boosted their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday. Finally, UBS Group raised their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.08.

Plains All American Pipeline Profile

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.