Virtu Financial LLC Buys 49,477 Shares of Plains All American Pipeline Lp $PAA

Virtu Financial LLC boosted its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 222.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,679 shares of the company’s stock after acquiring an additional 49,477 shares during the quarter. Virtu Financial LLC’s holdings in Plains All American Pipeline were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Citigroup Inc. boosted its stake in shares of Plains All American Pipeline by 17.8% during the third quarter. Citigroup Inc. now owns 535,200 shares of the company’s stock valued at $9,131,000 after purchasing an additional 80,788 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock worth $122,814,000 after buying an additional 967,059 shares during the period. Americana Partners LLC increased its stake in shares of Plains All American Pipeline by 110.9% in the fourth quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock worth $10,391,000 after buying an additional 304,247 shares during the period. Berkley W R Corp purchased a new position in shares of Plains All American Pipeline in the third quarter worth $32,871,000. Finally, Symphony Financial Services Inc. bought a new stake in Plains All American Pipeline during the 3rd quarter valued at $883,000. 41.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PAA. Scotiabank increased their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Mizuho increased their target price 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. Wells Fargo & Company increased their target price on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.93.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $21.34 on Friday. The business’s fifty day moving average is $22.32 and its 200 day moving average is $20.67. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 9.78 and a beta of 0.50. Plains All American Pipeline Lp has a twelve month low of $15.69 and a twelve month high of $24.26.

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

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.48%.

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.