Apella Capital LLC Makes New Investment in Plains All American Pipeline Lp $PAA

Apella Capital LLC acquired a new position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) during the first quarter, HoldingsChannel reports. The firm acquired 33,689 shares of the company’s stock, valued at approximately $708,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PAA. Summit Financial LLC raised its position in Plains All American Pipeline by 1.0% during the fourth quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock worth $1,100,000 after acquiring an additional 599 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of 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 valued at $41,000 after purchasing an additional 655 shares during the period. Symphony Financial Services Inc. lifted its stake in Plains All American Pipeline by 1.4% in the 4th quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock valued at $943,000 after purchasing an additional 715 shares during the last quarter. Sippican Capital Advisors grew its holdings in Plains All American Pipeline by 2.4% during the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the company’s stock worth $589,000 after purchasing an additional 775 shares during the period. Finally, Clear Trail Advisors LLC grew its holdings in Plains All American Pipeline by 1.5% during the first quarter. Clear Trail Advisors LLC now owns 57,047 shares of the company’s stock worth $1,274,000 after purchasing an additional 858 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Trading Up 1.1%

Shares of NASDAQ:PAA opened at $21.85 on Friday. The business’s 50 day simple moving average is $22.32 and its 200 day simple moving average is $20.79. Plains All American Pipeline Lp has a 1 year low of $15.69 and a 1 year high of $24.26. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The company has a market capitalization of $15.42 billion, a P/E ratio of 16.68, a P/E/G ratio of 10.02 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. Plains All American Pipeline’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. On average, research analysts anticipate that Plains All American Pipeline Lp will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Analyst Ratings Changes

Several research firms have issued reports on PAA. Truist Financial started coverage on Plains All American Pipeline in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective on the stock. US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. Morgan Stanley raised their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Finally, Citigroup lifted their price objective on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus target price of $22.93.

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.