Silvercrest Asset Management Group LLC Raises Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Silvercrest Asset Management Group LLC boosted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 27.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,368 shares of the pipeline company’s stock after purchasing an additional 18,472 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Plains All American Pipeline were worth $1,499,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Advisors Inc. OK purchased a new position in Plains All American Pipeline during the fourth quarter worth approximately $4,234,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after purchasing an additional 1,135,737 shares in the last quarter. DRW Securities LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth approximately $1,661,000. DAVENPORT & Co LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth approximately $182,000. Finally, Principal Securities Inc. purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $138,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $18.61 on Wednesday. Plains All American Pipeline, L.P. has a one year low of $14.25 and a one year high of $19.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The stock has a market cap of $13.05 billion, a PE ratio of 16.04 and a beta of 1.61. The stock has a 50 day moving average price of $17.73 and a 200 day moving average price of $17.17.

Plains All American Pipeline (NYSE:PAA) last posted 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 during the quarter, compared to analysts’ expectations of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. Equities research analysts expect that Plains All American Pipeline, L.P. will post 1.33 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.3175 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.82%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Analysts Set New Price Targets

PAA has been the topic of several research reports. Morgan Stanley raised their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group raised their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Scotiabank initiated coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price on the stock. TD Securities raised their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Monday, May 6th. Finally, Citigroup raised their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.55.

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.