Choreo LLC Invests $362,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Choreo LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,085 shares of the pipeline company’s stock, valued at approximately $362,000.

Other hedge funds also recently bought and sold shares of the company. Wedbush Securities Inc. boosted its stake in shares of Plains All American Pipeline by 16.8% during the second quarter. Wedbush Securities Inc. now owns 23,188 shares of the pipeline company’s stock valued at $414,000 after purchasing an additional 3,334 shares during the period. PFG Investments LLC grew its stake in Plains All American Pipeline by 4.9% in the 2nd quarter. PFG Investments LLC now owns 30,744 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 1,427 shares in the last quarter. Acadian Asset Management LLC grew its stake in Plains All American Pipeline by 114.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after acquiring an additional 1,020,277 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline by 0.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after acquiring an additional 57,289 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after purchasing an additional 927 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 0.5 %

NYSE PAA opened at $17.79 on Tuesday. Plains All American Pipeline, L.P. has a 52 week low of $14.25 and a 52 week high of $19.17. The company has a 50 day moving average price of $17.88 and a 200 day moving average price of $17.57. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The firm has a market cap of $12.47 billion, a PE ratio of 15.34 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.3 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.14%. The ex-dividend date was Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

Analysts Set New Price Targets

Several research analysts have commented on PAA shares. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.64.

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.