Plains All American Pipeline Lp $PAA Position Trimmed by ELCO Management Co. LLC

ELCO Management Co. LLC lessened its holdings in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 90.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,079 shares of the company’s stock after selling 151,339 shares during the quarter. ELCO Management Co. LLC’s holdings in Plains All American Pipeline were worth $289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its stake in 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 acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in Plains All American Pipeline during the 4th quarter valued at about $42,000. Global Retirement Partners LLC grew its stake in Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock valued at $44,000 after acquiring an additional 2,128 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in Plains All American Pipeline during the 3rd quarter valued at about $50,000. Finally, Fifth Third Bancorp grew its stake in Plains All American Pipeline by 257.3% during the 3rd quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock valued at $73,000 after acquiring an additional 3,065 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Mizuho set a $23.00 price target on Plains All American Pipeline in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. Finally, Wells Fargo & Company boosted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.08.

Plains All American Pipeline Stock Up 1.2%

Shares of Plains All American Pipeline stock opened at $21.99 on Tuesday. The company has a market capitalization of $15.51 billion, a PE ratio of 16.79, a P/E/G ratio of 2.72 and a beta of 0.51. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $21.79. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $23.04.

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). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.12% and a net margin of 2.53%.The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Plains All American Pipeline Lp will post 1.68 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, May 15th. Shareholders of record on Friday, May 1st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a yield of 7.6%. Plains All American Pipeline’s dividend payout ratio is presently 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.