Russell Investments Group Ltd. Has $2.71 Million Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Russell Investments Group Ltd. grew its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 344.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,900 shares of the pipeline company’s stock after purchasing an additional 185,100 shares during the quarter. Russell Investments Group Ltd.’s holdings in Plains All American Pipeline were worth $2,713,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of Plains All American Pipeline in the second quarter valued at approximately $28,000. Interactive Financial Advisors boosted its stake in shares of Plains All American Pipeline by 70.7% in the first quarter. Interactive Financial Advisors now owns 3,224 shares of the pipeline company’s stock valued at $29,000 after buying an additional 1,335 shares during the period. Cowen Prime Advisors LLC bought a new stake in shares of Plains All American Pipeline in the second quarter valued at approximately $39,000. Sound Income Strategies LLC bought a new stake in shares of Plains All American Pipeline in the second quarter valued at approximately $49,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Plains All American Pipeline in the second quarter valued at approximately $50,000. 44.18% of the stock is currently owned by institutional investors.

Several equities research analysts have weighed in on the company. Morgan Stanley upgraded Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a research note on Friday, July 16th. Zacks Investment Research cut Plains All American Pipeline from a “hold” rating to a “sell” rating and set a $10.50 target price for the company. in a research note on Friday, July 30th. Citigroup upped their target price on Plains All American Pipeline from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, July 13th. Wells Fargo & Company upped their target price on Plains All American Pipeline from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. Finally, Mizuho upped their target price on Plains All American Pipeline from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, June 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Plains All American Pipeline has an average rating of “Buy” and an average target price of $21.75.

Shares of PAA opened at $9.90 on Wednesday. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 61.88 and a beta of 2.31. Plains All American Pipeline, L.P. has a 52 week low of $5.26 and a 52 week high of $12.38. The stock has a fifty day moving average of $9.85 and a 200-day moving average of $10.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.81 and a current ratio of 0.92.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Monday, August 2nd. The pipeline company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.01). The company had revenue of $9.93 billion during the quarter, compared to analyst estimates of $7.60 billion. Plains All American Pipeline had a net margin of 0.89% and a return on equity of 13.77%. As a group, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.14 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $0.72 dividend on an annualized basis and a yield of 7.27%. Plains All American Pipeline’s payout ratio is 46.45%.

Plains All American Pipeline Company Profile

Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment includes transporting crude oil and refined products on pipelines, gathering systems, trucks, and barges.

Recommended Story: What moving averages are used to define a golden cross?

Want to see what other hedge funds are holding PAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plains All American Pipeline, L.P. (NYSE:PAA).

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

Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.