Hengehold Capital Management LLC Boosts Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Hengehold Capital Management LLC grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 61.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,970 shares of the pipeline company’s stock after buying an additional 30,745 shares during the quarter. Hengehold Capital Management LLC’s holdings in Plains All American Pipeline were worth $1,383,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Plains All American Pipeline in the 3rd quarter valued at $27,000. Future Financial Wealth Managment LLC bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth $28,000. Sunbelt Securities Inc. increased its stake in shares of Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after buying an additional 1,318 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 4,000 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $20.57 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $18.01 and its 200-day simple moving average is $17.77. The company has a market cap of $14.47 billion, a PE ratio of 13.64 and a beta of 1.64. Plains All American Pipeline, L.P. has a 1-year low of $15.02 and a 1-year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.39%. The ex-dividend date is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PAA shares. Barclays lifted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Scotiabank reaffirmed a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, January 10th. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.92.

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.