Apollon Wealth Management LLC Increases Position in Plains All American Pipeline, L.P. $PAA

Apollon Wealth Management LLC boosted its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 80,515 shares of the pipeline company’s stock after acquiring an additional 628 shares during the quarter. Apollon Wealth Management LLC’s holdings in Plains All American Pipeline were worth $1,475,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PAA. Farther Finance Advisors LLC grew its stake in Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 657 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Plains All American Pipeline by 61.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company’s stock valued at $1,521,000 after purchasing an additional 28,916 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Plains All American Pipeline in the 1st quarter valued at about $302,000. Inscription Capital LLC acquired a new position in Plains All American Pipeline in the 1st quarter valued at about $501,000. Finally, Advisor Resource Council acquired a new position in Plains All American Pipeline in the 1st quarter valued at about $291,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

PAA has been the topic of several recent analyst reports. Citigroup set a $18.00 target price on shares of Plains All American Pipeline and gave the company a “neutral” rating in a report on Friday, August 8th. Barclays decreased their target price on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 7th. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, September 8th. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the stock an “outperform” rating in a report on Wednesday, June 18th. Finally, Morgan Stanley decreased their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.50.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $15.96 on Tuesday. The firm has a market cap of $11.22 billion, a P/E ratio of 21.86 and a beta of 0.72. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm’s 50 day moving average price is $17.34 and its 200-day moving average price is $17.61.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 9.5%. Plains All American Pipeline’s dividend payout ratio is 172.73%.

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.