Exchange Traded Concepts LLC Has $10.16 Million Stake in Plains All American Pipeline Lp $PAA

Exchange Traded Concepts LLC raised its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 21.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 565,617 shares of the company’s stock after buying an additional 98,666 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Plains All American Pipeline were worth $10,158,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Alps Advisors Inc. raised its position in shares of Plains All American Pipeline by 2.2% in the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock worth $1,297,700,000 after acquiring an additional 1,663,908 shares in the last quarter. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 2.1% during the 3rd quarter. Invesco Ltd. now owns 33,280,692 shares of the company’s stock valued at $567,769,000 after purchasing an additional 677,959 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Plains All American Pipeline by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock worth $122,814,000 after purchasing an additional 967,059 shares during the period. BROOKFIELD Corp ON grew its stake in Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Plains All American Pipeline in the third quarter worth approximately $87,462,000. 41.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PAA has been the topic of several recent analyst reports. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Zacks Research downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Plains All American Pipeline in a research note on Monday, December 29th. Finally, Barclays raised their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.85.

Plains All American Pipeline Stock Performance

Shares of NASDAQ:PAA opened at $22.44 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. Plains All American Pipeline Lp has a 52-week low of $15.57 and a 52-week high of $22.79. The business has a 50 day moving average price of $20.61. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 3.51 and a beta of 0.58.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. During the same period in the prior year, the company posted $0.42 EPS. Plains All American Pipeline’s revenue was down 12.2% compared to the same quarter last year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a dividend of $0.4175 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a yield of 7.4%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 100.60%.

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.