Apollon Wealth Management LLC Raises Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Apollon Wealth Management LLC raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,610 shares of the pipeline company’s stock after acquiring an additional 2,731 shares during the period. Apollon Wealth Management LLC’s holdings in Plains All American Pipeline were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PAA. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter worth approximately $28,000. ORG Partners LLC raised its holdings in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 730 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $35,000. Sunbelt Securities Inc. raised its holdings in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 1,318 shares in the last quarter. Finally, American National Bank raised its holdings in shares of Plains All American Pipeline by 249.2% during the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after acquiring an additional 3,110 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

PAA stock opened at $17.18 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $17.34 and its two-hundred day simple moving average is $17.53. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 15.34 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the firm posted $0.35 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts predict that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s payout ratio is 113.39%.

Wall Street Analyst Weigh In

PAA has been the topic of several recent research reports. 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 report on Friday. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America started coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Profile

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.