MONECO Advisors LLC Takes $1.01 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)

MONECO Advisors LLC acquired a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 66,526 shares of the pipeline company’s stock, valued at approximately $1,008,000.

Several other large investors have also recently bought and sold shares of the business. Capital Advisors Inc. OK purchased a new position in shares of Plains All American Pipeline during the fourth quarter worth about $4,234,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Plains All American Pipeline by 9.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after purchasing an additional 1,135,737 shares during the period. DRW Securities LLC purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth $1,661,000. DAVENPORT & Co LLC purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth $182,000. Finally, Principal Securities Inc. purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth $138,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock traded up $0.20 during mid-day trading on Monday, hitting $16.75. 970,990 shares of the company traded hands, compared to its average volume of 3,102,363. Plains All American Pipeline, L.P. has a one year low of $13.20 and a one year high of $19.03. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 11.57 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The stock has a fifty day moving average price of $17.40 and a 200-day moving average price of $16.50.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts predict that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.58%. The ex-dividend date was Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is 109.48%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PAA. Wells Fargo & Company increased their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. TD Securities raised their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, May 6th. Truist Financial raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Citigroup raised their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Finally, Morgan Stanley lifted their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.38.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.