Wealthstar Advisors LLC Has $2.31 Million Holdings in Plains All American Pipeline Lp $PAA

Wealthstar Advisors LLC raised its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 152.0% in the first quarter, Holdings Channel.com reports. The firm owned 103,580 shares of the company’s stock after acquiring an additional 62,477 shares during the period. Plains All American Pipeline makes up approximately 1.1% of Wealthstar Advisors LLC’s holdings, making the stock its 14th largest holding. Wealthstar Advisors LLC’s holdings in Plains All American Pipeline were worth $2,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PAA. PFG Investments LLC raised its position in shares of Plains All American Pipeline by 1.0% during the first quarter. PFG Investments LLC now owns 139,743 shares of the company’s stock valued at $3,120,000 after buying an additional 1,402 shares during the last quarter. World Investment Advisors grew its position in Plains All American Pipeline by 16.0% during the first quarter. World Investment Advisors now owns 24,996 shares of the company’s stock worth $558,000 after buying an additional 3,454 shares in the last quarter. Private Advisor Group LLC grew its position in Plains All American Pipeline by 1.3% during the first quarter. Private Advisor Group LLC now owns 171,281 shares of the company’s stock worth $3,825,000 after buying an additional 2,123 shares in the last quarter. Elemental Capital Partners LLC bought a new position in Plains All American Pipeline during the first quarter valued at about $285,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Plains All American Pipeline during the first quarter valued at about $1,269,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PAA shares. Mizuho upped their price target on Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Citigroup boosted their price objective on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. The Goldman Sachs Group upgraded Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their target price for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Finally, Morgan Stanley raised their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.93.

Plains All American Pipeline Stock Performance

NASDAQ:PAA opened at $22.51 on Friday. The firm 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. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.26. The firm has a 50-day moving average price of $22.43 and a 200 day moving average price of $20.95.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share 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 company had revenue of $12.47 billion for the quarter. During the same quarter last year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Plains All American Pipeline Lp will post 1.56 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is 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.