Maryland State Retirement & Pension System Grows Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Maryland State Retirement & Pension System lifted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,138 shares of the pipeline company’s stock after purchasing an additional 6,458 shares during the period. Maryland State Retirement & Pension System’s holdings in Plains All American Pipeline were worth $5,805,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CENTRAL TRUST Co raised its stake in shares of Plains All American Pipeline by 212.5% in the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares during the period. Fortitude Family Office LLC purchased a new position in Plains All American Pipeline in the 4th quarter valued at approximately $39,000. Briaud Financial Planning Inc bought a new stake in Plains All American Pipeline during the 3rd quarter valued at $58,000. Provence Wealth Management Group bought a new position in shares of Plains All American Pipeline in the third quarter worth $62,000. Finally, Allworth Financial LP raised its stake in shares of Plains All American Pipeline by 451.1% during the 3rd quarter. Allworth Financial LP now owns 6,244 shares of the pipeline company’s stock valued at $96,000 after purchasing an additional 5,111 shares during the period. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PAA. Citigroup increased their price objective on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday. TD Securities increased their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday. Scotiabank started coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. Finally, UBS Group boosted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.08.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA traded up $0.12 during midday trading on Monday, reaching $17.61. 4,022,551 shares of the company’s stock traded hands, compared to its average volume of 3,463,333. The company has a market cap of $12.35 billion, a P/E ratio of 15.18 and a beta of 1.58. The company has a fifty day simple moving average of $17.40 and a two-hundred day simple moving average of $16.16. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. Plains All American Pipeline, L.P. has a 1 year low of $12.50 and a 1 year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. Equities analysts predict that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.21%. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

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.