Plains All American Pipeline Lp $PAA Shares Purchased by Callodine Capital Management LP

Callodine Capital Management LP raised its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 33.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Callodine Capital Management LP’s holdings in Plains All American Pipeline were worth $4,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Life Planners acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at about $27,000. Newbridge Financial Services Group Inc. boosted its holdings in Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares during the period. Fulcrum Asset Management LLP purchased a new position in Plains All American Pipeline in the 3rd quarter worth approximately $50,000. Scarborough Advisors LLC acquired a new stake in Plains All American Pipeline in the first quarter valued at approximately $80,000. Finally, Farther Finance Advisors LLC grew its position in Plains All American Pipeline by 342.7% in the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock valued at $73,000 after acquiring an additional 3,149 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $24.60 on Friday. The stock has a market cap of $17.36 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 9.71 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average of $22.87 and a 200-day moving average of $21.57. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $24.87.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results 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). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, analysts expect that Plains All American Pipeline Lp will post 1.55 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 Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 127.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plains All American Pipeline in a report on Wednesday, July 15th. Scotiabank lifted their price target on shares of 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. Mizuho boosted their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Wells Fargo & Company upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.23.

Plains All American Pipeline 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.