Manning & Napier Advisors LLC Boosts Stock Position in Plains All American Pipeline Lp $PAA

Manning & Napier Advisors LLC boosted its position in Plains All American Pipeline Lp (NASDAQ:PAA) by 33.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Plains All American Pipeline were worth $4,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAA. Financial Life Planners acquired a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. grew its stake in Plains All American Pipeline by 40.7% in the 4th 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 during the period. Aventura Private Wealth LLC purchased a new stake in Plains All American Pipeline in the 4th quarter worth approximately $42,000. Fulcrum Asset Management LLP purchased a new position in shares of Plains All American Pipeline during the 3rd quarter worth $50,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Plains All American Pipeline by 342.7% during 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 period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Up 0.3%

Shares of Plains All American Pipeline stock traded up $0.06 during trading hours on Friday, reaching $22.89. The stock had a trading volume of 1,456,682 shares, compared to its average volume of 2,128,002. The firm has a market capitalization of $16.15 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 10.49 and a beta of 0.50. Plains All American Pipeline Lp has a 1 year low of $15.69 and a 1 year high of $24.26. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $22.51 and a two-hundred day simple moving average of $21.13.

Plains All American Pipeline (NASDAQ:PAA) last issued 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 firm had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business’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 EPS. As a group, equities research analysts anticipate that Plains All American Pipeline Lp will post 1.56 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 7.3%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s payout ratio is currently 127.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank lifted their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group upgraded Plains All American Pipeline from a “sell” rating to a “neutral” rating and increased their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Barclays lifted their price target on Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Wells Fargo & Company upped their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Mizuho increased their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus target price of $22.93.

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.