ELCO Management Co. LLC Raises Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

ELCO Management Co. LLC lifted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 38.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,135 shares of the pipeline company’s stock after acquiring an additional 35,990 shares during the quarter. Plains All American Pipeline accounts for about 1.1% of ELCO Management Co. LLC’s holdings, making the stock its 24th largest position. ELCO Management Co. LLC’s holdings in Plains All American Pipeline were worth $1,478,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its position in Plains All American Pipeline by 4.8% in the first quarter. Alps Advisors Inc. now owns 54,382,411 shares of the pipeline company’s stock worth $494,880,000 after buying an additional 2,490,673 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Plains All American Pipeline by 7,973.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 29,224,500 shares of the pipeline company’s stock worth $265,943,000 after buying an additional 28,862,532 shares during the last quarter. Brookfield Asset Management Inc. increased its position in Plains All American Pipeline by 4.3% in the first quarter. Brookfield Asset Management Inc. now owns 15,647,369 shares of the pipeline company’s stock worth $142,391,000 after buying an additional 640,478 shares during the last quarter. UBS Group AG increased its position in Plains All American Pipeline by 2.2% in the first quarter. UBS Group AG now owns 8,774,385 shares of the pipeline company’s stock worth $79,847,000 after buying an additional 184,963 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Plains All American Pipeline by 2.0% in the first quarter. Clearbridge Investments LLC now owns 7,190,656 shares of the pipeline company’s stock worth $65,435,000 after buying an additional 139,526 shares during the last quarter. 44.18% of the stock is owned by institutional investors and hedge funds.

NYSE:PAA traded down $0.20 during trading hours on Monday, hitting $9.27. 165,538 shares of the company’s stock traded hands, compared to its average volume of 4,628,386. The firm has a market cap of $6.65 billion, a P/E ratio of 59.19 and a beta of 2.31. Plains All American Pipeline, L.P. has a 52 week low of $5.26 and a 52 week high of $12.38. The business’s fifty day simple moving average is $9.79 and its two-hundred day simple moving average is $10.01. The company has a quick ratio of 0.81, a current ratio of 0.92 and a debt-to-equity ratio of 1.14.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Monday, August 2nd. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The business had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. Plains All American Pipeline had a net margin of 0.89% and a return on equity of 13.77%. On average, analysts expect that Plains All American Pipeline, L.P. will post 1.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 7.77%. The ex-dividend date was Thursday, July 29th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 46.45%.

A number of research firms have issued reports on PAA. Wells Fargo & Company raised their target price on Plains All American Pipeline from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Citigroup raised their price target on Plains All American Pipeline from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 13th. Mizuho raised their price target on Plains All American Pipeline from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, June 9th. Zacks Investment Research lowered Plains All American Pipeline from a “hold” rating to a “sell” rating and set a $10.50 price target for the company. in a report on Friday, July 30th. Finally, Morgan Stanley raised Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a report on Friday, July 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of “Buy” and a consensus target price of $21.75.

Plains All American Pipeline Profile

Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment includes transporting crude oil and refined products on pipelines, gathering systems, trucks, and barges.

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

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