Tortoise Capital Advisors L.L.C. Boosts Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Tortoise Capital Advisors L.L.C. grew its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,854,069 shares of the pipeline company’s stock after purchasing an additional 57,289 shares during the period. Plains All American Pipeline makes up about 4.5% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 9th biggest position. Tortoise Capital Advisors L.L.C. owned about 2.69% of Plains All American Pipeline worth $336,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ORG Partners LLC raised its position in shares of Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares during the period. Private Advisor Group LLC grew its stake in Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after acquiring an additional 927 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its stake in Plains All American Pipeline by 1.4% during the second quarter. Wealth Alliance Advisory Group LLC now owns 87,927 shares of the pipeline company’s stock valued at $1,570,000 after acquiring an additional 1,198 shares in the last quarter. HB Wealth Management LLC grew its stake in Plains All American Pipeline by 9.8% during the second quarter. HB Wealth Management LLC now owns 14,599 shares of the pipeline company’s stock valued at $261,000 after acquiring an additional 1,308 shares in the last quarter. Finally, Mather Group LLC. grew its stake in Plains All American Pipeline by 31.5% during the second quarter. Mather Group LLC. now owns 5,676 shares of the pipeline company’s stock valued at $100,000 after acquiring an additional 1,361 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $17.37 on Friday. Plains All American Pipeline, L.P. has a 52-week low of $14.25 and a 52-week high of $19.17. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 14.97 and a beta of 1.60. The company has a fifty day moving average of $18.01 and a 200-day moving average of $17.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Equities research analysts expect that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.31%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PAA shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday. UBS Group boosted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley boosted their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and a consensus target price 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.