Tucker Asset Management LLC Buys New Shares in Plains All American Pipeline, L.P. (NYSE:PAA)

Tucker Asset Management LLC bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,315 shares of the pipeline company’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $46,000. Prospect Financial Services LLC acquired a new position in Plains All American Pipeline during the fourth quarter valued at $1,251,000. Bluefin Capital Management LLC boosted its holdings in Plains All American Pipeline by 136.3% in the fourth quarter. Bluefin Capital Management LLC now owns 24,100 shares of the pipeline company’s stock valued at $364,000 after purchasing an additional 13,900 shares during the last quarter. DRW Securities LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth about $1,661,000. Finally, Fort Sheridan Advisors LLC raised its stake in shares of Plains All American Pipeline by 10.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 102,571 shares of the pipeline company’s stock valued at $1,554,000 after buying an additional 9,549 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective on the stock. Citigroup boosted their target price on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Plains All American Pipeline Price Performance

PAA stock traded down $0.14 during trading on Friday, hitting $16.55. The stock had a trading volume of 1,447,176 shares, compared to its average volume of 1,812,594. The company’s 50-day moving average price is $17.40 and its two-hundred day moving average price is $16.50. Plains All American Pipeline, L.P. has a twelve month low of $13.11 and a twelve month high of $19.03. The stock has a market capitalization of $11.60 billion, a P/E ratio of 14.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. As a group, research analysts predict that Plains All American Pipeline, L.P. will post 1.29 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.3175 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.67%. Plains All American Pipeline’s payout ratio is presently 109.48%.

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.