Spirit of America Management Corp NY Has $5.68 Million Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Spirit of America Management Corp NY decreased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 332,300 shares of the pipeline company’s stock after selling 30,000 shares during the period. Plains All American Pipeline makes up approximately 1.2% of Spirit of America Management Corp NY’s portfolio, making the stock its 24th largest position. Spirit of America Management Corp NY’s holdings in Plains All American Pipeline were worth $5,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Axiom Advisory LLC increased its stake in shares of Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 750 shares during the last quarter. Eclectic Associates Inc. ADV grew its stake in Plains All American Pipeline by 7.6% in the 4th quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company’s stock valued at $207,000 after buying an additional 854 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after buying an additional 887 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in Plains All American Pipeline by 0.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after buying an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAA. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, January 10th. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Raymond James increased their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $20.10 on Wednesday. The company has a 50-day moving average of $18.47 and a 200-day moving average of $17.86. The company has a market capitalization of $14.14 billion, a price-to-earnings ratio of 17.95 and a beta of 1.65. Plains All American Pipeline, L.P. has a 52 week low of $15.02 and a 52 week 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.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.56%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio (DPR) is 135.71%.

Plains All American Pipeline 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.