Aviance Capital Partners LLC Has $2.63 Million Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Aviance Capital Partners LLC grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,671 shares of the pipeline company’s stock after buying an additional 4,526 shares during the quarter. Aviance Capital Partners LLC’s holdings in Plains All American Pipeline were worth $2,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline during the first quarter worth about $28,000. Fortitude Family Office LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth about $39,000. Scarborough Advisors LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth about $46,000. Mather Group LLC. purchased a new position in Plains All American Pipeline during the first quarter worth about $76,000. Finally, Tucker Asset Management LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth about $81,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock traded up $0.06 during midday trading on Monday, reaching $17.92. 61,616 shares of the stock were exchanged, compared to its average volume of 3,016,986. The company’s fifty day moving average is $17.28 and its 200-day moving average is $16.65. 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 firm has a market cap of $12.56 billion, a PE ratio of 12.49 and a beta of 1.61. Plains All American Pipeline, L.P. has a 52 week low of $13.88 and a 52 week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. Plains All American Pipeline’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.29 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date was Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup boosted their target price on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Wells Fargo & Company boosted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Royal Bank of Canada boosted their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of “Moderate Buy” and an average price target of $19.38.

About Plains All American Pipeline

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.