Virtu Financial LLC raised its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 174.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,173 shares of the pipeline company’s stock after buying an additional 143,147 shares during the period. Plains All American Pipeline, L.P. accounts for about 0.8% of Virtu Financial LLC’s holdings, making the stock its 24th largest position. Virtu Financial LLC’s holdings in Plains All American Pipeline, L.P. were worth $5,915,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PAA. Founders Capital Management bought a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $101,000. Trust Co. of Vermont increased its position in shares of 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 during the last quarter. Parkside Financial Bank & Trust increased its position in shares of 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 during the last quarter. Advisory Services Network LLC bought a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $139,000. Finally, Princeton Portfolio Strategies Group LLC bought a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $153,000. 43.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at 25.62 on Monday. The firm’s 50-day moving average price is $25.75 and its 200-day moving average price is $28.97. The firm has a market cap of $18.57 billion, a PE ratio of 23.81 and a beta of 0.95. Plains All American Pipeline, L.P. has a one year low of $23.21 and a one year high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data on Monday, May 8th. The pipeline company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.09. Plains All American Pipeline, L.P. had a net margin of 4.26% and a return on equity of 9.52%. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period last year, the business earned $0.45 EPS. The business’s revenue was up 62.2% on a year-over-year basis. Equities research analysts expect that Plains All American Pipeline, L.P. will post $1.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date is Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio is presently 239.13%.

COPYRIGHT VIOLATION WARNING: “Virtu Financial LLC Has $5.92 Million Position in Plains All American Pipeline, L.P. (NYSE:PAA)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.thecerbatgem.com/2017/08/07/plains-all-american-pipeline-l-p-nysepaa-stake-increased-by-virtu-financial-llc-updated-updated-updated.html.

PAA has been the topic of several research analyst reports. 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, April 27th. Deutsche Bank AG lowered their target price on 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, May 30th. UBS AG reissued a “buy” rating and set a $33.00 target price (down from $34.00) on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, May 10th. Mizuho raised Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 price objective on shares of Plains All American Pipeline, L.P. in a research report on Friday, June 23rd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Plains All American Pipeline, L.P. has a consensus rating of “Buy” and an average price target of $32.83.

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.

Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

Receive News & Stock Ratings for Plains All American Pipeline L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline L.P. and related stocks with our FREE daily email newsletter.