Virtu Financial LLC Buys 49,477 Shares of Plains All American Pipeline Lp $PAA

Virtu Financial LLC raised its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 222.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 71,679 shares of the company’s stock after buying an additional 49,477 shares during the quarter. Virtu Financial LLC’s holdings in Plains All American Pipeline were worth $1,287,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its holdings in 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 acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter valued at $42,000. Fulcrum Asset Management LLP bought a new position in shares of Plains All American Pipeline during the third quarter valued at $50,000. Fifth Third Bancorp raised its position in shares of Plains All American Pipeline by 257.3% in the 3rd quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after purchasing an additional 3,065 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Plains All American Pipeline by 342.7% in the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after purchasing an additional 3,149 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped 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 note on Tuesday, May 12th. Citigroup raised their price objective on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday. US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $22.93.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $21.34 on Friday. The business has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $20.67. 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 52 week low of $15.69 and a 52 week high of $24.26. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 9.78 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last posted 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). The company 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 quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, analysts expect that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 annualized dividend and a yield of 7.8%. Plains All American Pipeline’s payout ratio is currently 127.48%.

About Plains All American Pipeline

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.