Nicholas Wealth LLC. Takes $1.27 Million Position in Plains All American Pipeline Lp $PAA

Nicholas Wealth LLC. purchased a new stake in Plains All American Pipeline Lp (NASDAQ:PAA) in the 1st quarter, HoldingsChannel reports. The firm purchased 56,975 shares of the company’s stock, valued at approximately $1,272,000.

Other large investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its position in Plains All American Pipeline by 70.8% during the first quarter. Kestra Private Wealth Services LLC now owns 31,444 shares of the company’s stock worth $702,000 after purchasing an additional 13,039 shares in the last quarter. Apella Capital LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $708,000. Clear Trail Advisors LLC raised its stake in shares of Plains All American Pipeline by 1.5% during the 1st quarter. Clear Trail Advisors LLC now owns 57,047 shares of the company’s stock worth $1,274,000 after buying an additional 858 shares during the period. SG Americas Securities LLC purchased a new position in shares of Plains All American Pipeline during the 1st quarter valued at approximately $908,000. Finally, Evolve Private Wealth LLC purchased a new position in shares of Plains All American Pipeline during the 1st quarter valued at approximately $326,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $21.85 on Friday. Plains All American Pipeline Lp has a one year low of $15.69 and a one year high of $24.26. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 10.02 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The business’s 50 day moving average price is $22.32 and its 200 day moving average price is $20.79.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company had revenue of $12.47 billion during the quarter. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.6%. Plains All American Pipeline’s dividend payout ratio is currently 127.48%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAA. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Truist Financial started coverage on shares of Plains All American Pipeline in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target on the stock. Mizuho lifted their price objective on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Morgan Stanley boosted their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $22.93.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.