MPI Investment Management Inc. Invests $288,000 in Plains All American Pipeline, L.P. (PAA)

MPI Investment Management Inc. acquired a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) during the 4th quarter, HoldingsChannel reports. The fund acquired 13,935 shares of the pipeline company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cadence Capital Management LLC raised its position in shares of Plains All American Pipeline by 14.4% in the fourth quarter. Cadence Capital Management LLC now owns 615,479 shares of the pipeline company’s stock valued at $12,703,000 after purchasing an additional 77,420 shares during the period. Alps Advisors Inc. raised its position in shares of Plains All American Pipeline by 2.8% in the fourth quarter. Alps Advisors Inc. now owns 34,909,603 shares of the pipeline company’s stock valued at $720,534,000 after purchasing an additional 950,633 shares during the period. Quadrant Private Wealth Management LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at about $458,000. Ballentine Partners LLC raised its position in shares of Plains All American Pipeline by 22.2% in the fourth quarter. Ballentine Partners LLC now owns 83,858 shares of the pipeline company’s stock valued at $1,731,000 after purchasing an additional 15,236 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at about $166,000. 43.20% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on PAA shares. Jefferies Group reissued a “buy” rating and issued a $25.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 12th. BMO Capital Markets set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, October 17th. Seaport Global Securities raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research report on Thursday. Barclays downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and set a $26.00 price target on the stock. in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $24.00 price target (up from $22.00) on shares of Plains All American Pipeline in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $26.53.

Plains All American Pipeline, L.P. (NYSE PAA) opened at $21.50 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.00 and a quick ratio of 0.78. Plains All American Pipeline, L.P. has a one year low of $18.38 and a one year high of $33.01. The company has a market cap of $15,480.00, a PE ratio of 23.21 and a beta of 0.87.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). The firm had revenue of $7.61 billion for the quarter, compared to analyst estimates of $6.37 billion. Plains All American Pipeline had a return on equity of 9.93% and a net margin of 3.26%. The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. research analysts anticipate that Plains All American Pipeline, L.P. will post 1.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.58%. Plains All American Pipeline’s payout ratio is 130.43%.

In other Plains All American Pipeline news, VP Chris Herbold sold 10,171 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $20.25, for a total transaction of $205,962.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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Plains All American Pipeline 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.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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