Welch & Forbes LLC Has $209,000 Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Welch & Forbes LLC held its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,916 shares of the pipeline company’s stock at the end of the second quarter. Welch & Forbes LLC’s holdings in Plains All American Pipeline, L.P. were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PAA. Founders Capital Management acquired a new position in shares of Plains All American Pipeline, L.P. during the first quarter worth $101,000. Trust Co. of Vermont raised its position in Plains All American Pipeline, L.P. by 1,260.0% in the first quarter. Trust Co. of Vermont now owns 3,400 shares of the pipeline company’s stock worth $107,000 after buying an additional 3,150 shares during the period. Parkside Financial Bank & Trust raised its position in Plains All American Pipeline, L.P. by 23.3% in the first quarter. Parkside Financial Bank & Trust now owns 4,228 shares of the pipeline company’s stock worth $134,000 after buying an additional 800 shares during the period. Advisory Services Network LLC purchased a new position in Plains All American Pipeline, L.P. during the first quarter worth approximately $139,000. Finally, Princeton Portfolio Strategies Group LLC purchased a new position in Plains All American Pipeline, L.P. during the first quarter worth approximately $153,000. Hedge funds and other institutional investors own 43.94% of the company’s stock.

Plains All American Pipeline, L.P. (NYSE PAA) traded down 0.68% on Friday, hitting $19.01. 4,964,772 shares of the company’s stock traded hands. The stock has a market cap of $13.78 billion, a P/E ratio of 14.67 and a beta of 0.95. The stock has a 50 day moving average price of $24.71 and a 200-day moving average price of $28.14. Plains All American Pipeline, L.P. has a 12 month low of $18.82 and a 12 month high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its earnings results on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Equities analysts predict that Plains All American Pipeline, L.P. will post $1.50 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.57%. Plains All American Pipeline, L.P.’s dividend payout ratio is currently 165.41%.

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A number of research firms have recently commented on PAA. BMO Capital Markets cut their price objective on shares of Plains All American Pipeline, L.P. from $31.00 to $22.00 and set a “market perform” rating for the company in a research report on Friday. BidaskClub lowered shares of Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Citigroup Inc. restated a “buy” rating and issued a $28.00 price objective (down from $33.50) on shares of Plains All American Pipeline, L.P. in a research report on Thursday, August 10th. Barclays PLC restated a “buy” rating and issued a $28.00 price objective on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. set a $24.00 price objective on shares of Plains All American Pipeline, L.P. and gave the company a “buy” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.82.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Institutional Ownership by Quarter for Plains All American Pipeline, L.P. (NYSE:PAA)

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