Plains All American Pipeline, L.P. (NYSE:PAA) Stock Holdings Lifted by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. raised its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 7,973.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,224,500 shares of the pipeline company’s stock after purchasing an additional 28,862,532 shares during the quarter. Plains All American Pipeline makes up approximately 4.4% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 9th biggest position. Tortoise Capital Advisors L.L.C. owned about 4.05% of Plains All American Pipeline worth $265,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAA. BlackRock Inc. boosted its stake in shares of Plains All American Pipeline by 2,139.3% during the 1st quarter. BlackRock Inc. now owns 3,546,588 shares of the pipeline company’s stock worth $32,275,000 after acquiring an additional 3,388,209 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Plains All American Pipeline by 4.8% during the 1st quarter. Alps Advisors Inc. now owns 54,382,411 shares of the pipeline company’s stock worth $494,880,000 after acquiring an additional 2,490,673 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of Plains All American Pipeline by 7.1% during the 4th quarter. Brookfield Asset Management Inc. now owns 15,006,891 shares of the pipeline company’s stock worth $123,657,000 after acquiring an additional 993,717 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Plains All American Pipeline by 107.3% during the 4th quarter. CWA Asset Management Group LLC now owns 1,867,292 shares of the pipeline company’s stock worth $15,386,000 after acquiring an additional 966,522 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Plains All American Pipeline by 8.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 7,326,672 shares of the pipeline company’s stock worth $66,670,000 after acquiring an additional 550,000 shares in the last quarter. Hedge funds and other institutional investors own 44.91% of the company’s stock.

PAA has been the subject of several recent analyst reports. Wells Fargo & Company increased their target price on Plains All American Pipeline from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Mizuho increased their target price on Plains All American Pipeline from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, June 9th. TD Securities decreased their target price on Plains All American Pipeline from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, May 5th. Zacks Investment Research upgraded Plains All American Pipeline from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Tuesday. Finally, Citigroup increased their target price on Plains All American Pipeline from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 13th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.80.

Shares of PAA traded up $0.14 during mid-day trading on Thursday, reaching $10.27. The company had a trading volume of 145,597 shares, compared to its average volume of 4,112,593. Plains All American Pipeline, L.P. has a twelve month low of $5.26 and a twelve month high of $12.38. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $10.98. The stock has a market cap of $7.42 billion, a P/E ratio of 15.14 and a beta of 2.32.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Monday, May 3rd. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Plains All American Pipeline had a return on equity of 14.62% and a net margin of 2.69%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $6.86 billion. During the same period in the prior year, the firm posted $0.55 EPS. Plains All American Pipeline’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities analysts predict that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Friday, July 30th will be issued a $0.18 dividend. The ex-dividend date is Thursday, July 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.01%. Plains All American Pipeline’s payout ratio is presently 46.45%.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through three segments: Transportation, Facilities, and Supply and Logistics.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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