Sunbelt Securities Inc. Increases Holdings in Plains All American Pipeline Lp $PAA

Sunbelt Securities Inc. grew its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 62.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,597 shares of the company’s stock after buying an additional 21,028 shares during the quarter. Sunbelt Securities Inc.’s holdings in Plains All American Pipeline were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PAA. Americana Partners LLC boosted its position in Plains All American Pipeline by 110.9% in the fourth quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock worth $10,391,000 after purchasing an additional 304,247 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the period. Longfellow Investment Management Co. LLC increased its position in shares of Plains All American Pipeline by 21.5% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock valued at $28,636,000 after purchasing an additional 281,609 shares during the last quarter. GraniteShares Advisors LLC bought a new position in shares of Plains All American Pipeline in the 4th quarter worth approximately $2,717,000. Finally, Manning & Napier Advisors LLC lifted its stake in shares of Plains All American Pipeline by 33.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock worth $4,466,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAA. Wells Fargo & Company boosted their target price on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Morgan Stanley increased their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Finally, Scotiabank upped their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.23.

Plains All American Pipeline Price Performance

NASDAQ:PAA opened at $24.89 on Thursday. The business’s 50-day simple moving average is $22.94 and its two-hundred day simple moving average is $21.72. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $25.03. The stock has a market cap of $17.56 billion, a PE ratio of 19.00, a P/E/G ratio of 9.69 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business had revenue of $12.47 billion during the quarter. During the same period last year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts forecast that Plains All American Pipeline Lp will post 1.55 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.