Elevation Point Wealth Partners LLC Takes Position in Plains All American Pipeline Lp $PAA

Elevation Point Wealth Partners LLC purchased a new position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) during the first quarter, Holdings Channel.com reports. The fund purchased 56,816 shares of the company’s stock, valued at approximately $1,269,000.

Several other hedge funds have also made changes to their positions in the stock. Financial Life Planners acquired a new position in Plains All American Pipeline during the 1st quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. lifted its stake in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after buying an additional 655 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in Plains All American Pipeline in the fourth quarter valued at $42,000. Fulcrum Asset Management LLP acquired a new position in shares of Plains All American Pipeline during the third quarter valued at $50,000. Finally, Farther Finance Advisors LLC grew its position in shares of Plains All American Pipeline by 342.7% during the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after acquiring an additional 3,149 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

PAA has been the topic of several recent research reports. Barclays lifted their price objective on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Friday, April 10th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research report on Tuesday, June 16th. Scotiabank lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Truist Financial began coverage on Plains All American Pipeline in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Citigroup increased their price objective on Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.93.

Plains All American Pipeline Price Performance

Shares of NASDAQ PAA opened at $22.27 on Tuesday. Plains All American Pipeline Lp has a twelve month low of $15.69 and a twelve month high of $24.26. 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 company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 10.32 and a beta of 0.50. The firm has a 50-day moving average of $22.45 and a two-hundred day moving average of $21.01.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.39 earnings per share. Plains All American Pipeline’s revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Plains All American Pipeline Lp will post 1.56 earnings per share for the current fiscal year.

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.