Kings Point Capital Management Lifted Holding in Plains All American Pipeline, L.P. (PAA)

Kings Point Capital Management Lifted Holding in Plains All American Pipeline, L.P. (PAA)

Kings Point Capital Management boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 38,090 shares of the pipeline company’s stock after buying an additional 1,006 shares during the period. Kings Point Capital Management’s holdings in Plains All American Pipeline, L.P. were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PAA. Founders Capital Management purchased a new position in Plains All American Pipeline, L.P. during the first quarter worth approximately $101,000. Trust Co. of Vermont raised its position in Plains All American Pipeline, L.P. by 1,260.0% in the first quarter. Trust Co. of Vermont now owns 3,400 shares of the pipeline company’s stock worth $107,000 after buying an additional 3,150 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Plains All American Pipeline, L.P. by 23.3% in the first quarter. Parkside Financial Bank & Trust now owns 4,228 shares of the pipeline company’s stock worth $134,000 after buying an additional 800 shares in the last quarter. Advisory Services Network LLC purchased a new position in Plains All American Pipeline, L.P. during the first quarter worth approximately $139,000. Finally, Sunbelt Securities Inc. purchased a new position in Plains All American Pipeline, L.P. during the fourth quarter worth approximately $150,000. 68.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Plains All American Pipeline, L.P. (PAA) traded down 0.87% on Friday, reaching $26.33. 1,963,706 shares of the company traded hands. Plains All American Pipeline, L.P. has a 52-week low of $24.51 and a 52-week high of $33.95. The stock has a 50 day moving average of $28.44 and a 200 day moving average of $30.87. The stock has a market cap of $19.08 billion, a price-to-earnings ratio of 24.47 and a beta of 0.87.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings results on Monday, May 8th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $5.34 billion. Plains All American Pipeline, L.P. had a net margin of 3.60% and a return on equity of 11.52%. The business’s revenue was up 62.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. On average, analysts expect that Plains All American Pipeline, L.P. will post $1.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 8.36%. The ex-dividend date was Thursday, April 27th. Plains All American Pipeline, L.P.’s payout ratio is presently 536.59%.

A number of equities analysts recently commented on the stock. Deutsche Bank AG decreased their target price on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday. FBR & Co set a $30.00 target price on shares of Plains All American Pipeline, L.P. and gave the company a “hold” rating in a research note on Thursday, February 16th. Stifel Nicolaus lifted their target price on shares of Plains All American Pipeline, L.P. to $32.00 in a research note on Thursday, February 9th. Scotiabank reissued a “buy” rating and set a $36.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Thursday, February 9th. Finally, Macquarie reissued an “outperform” rating and set a $36.00 target price on shares of Plains All American Pipeline, L.P. in a research note on Friday, April 21st. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Plains All American Pipeline, L.P. presently has a consensus rating of “Hold” and a consensus price target of $32.75.

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PAA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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