Evermay Wealth Management LLC Invests $35,000 in Plains All American Pipeline, L.P. (NYSE:PAA)

Evermay Wealth Management LLC bought a new position in Plains All American Pipeline, L.P. (NYSE:PAA) during the first quarter, Holdings Channel.com reports. The firm bought 2,000 shares of the pipeline company’s stock, valued at approximately $35,000.

Other institutional investors have also bought and sold shares of the company. Eagle Bay Advisors LLC bought a new position in Plains All American Pipeline in the first quarter valued at $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $28,000. Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline in the fourth quarter worth approximately $46,000. Mather Group LLC. purchased a new stake in Plains All American Pipeline in the first quarter worth approximately $76,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth $81,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

NYSE:PAA traded down $0.34 during trading hours on Thursday, reaching $18.02. The company had a trading volume of 2,431,230 shares, compared to its average volume of 2,915,909. The firm has a market cap of $12.63 billion, a PE ratio of 15.53 and a beta of 1.61. Plains All American Pipeline, L.P. has a 1-year low of $14.25 and a 1-year high of $19.17. The business’s 50 day moving average price is $17.68 and its 200-day moving average price is $17.09. 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 posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.32 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.05%. The ex-dividend date is Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PAA. Wells Fargo & Company lifted their target price 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 Wednesday, May 8th. TD Securities upped their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 6th. Royal Bank of Canada raised their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Scotiabank assumed coverage on Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. Finally, UBS Group lifted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.55.

Plains All American Pipeline Company 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.