WealthTrust Axiom LLC Reduces Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

WealthTrust Axiom LLC trimmed its position in Plains All American Pipeline, L.P. (NYSE:PAAGet Rating) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,100 shares of the pipeline company’s stock after selling 1,000 shares during the period. WealthTrust Axiom LLC’s holdings in Plains All American Pipeline were worth $173,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Plains All American Pipeline by 1.7% in the fourth quarter. Alps Advisors Inc. now owns 52,505,872 shares of the pipeline company’s stock worth $490,405,000 after buying an additional 880,660 shares during the period. Invesco Ltd. raised its stake in shares of Plains All American Pipeline by 25.6% in the fourth quarter. Invesco Ltd. now owns 12,534,975 shares of the pipeline company’s stock worth $117,077,000 after buying an additional 2,556,325 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Plains All American Pipeline by 5.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 9,803,725 shares of the pipeline company’s stock worth $91,566,000 after buying an additional 467,834 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Plains All American Pipeline by 6.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,642,832 shares of the pipeline company’s stock worth $71,384,000 after buying an additional 435,759 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Plains All American Pipeline by 35.0% in the fourth quarter. Bank of America Corp DE now owns 6,828,234 shares of the pipeline company’s stock worth $63,775,000 after buying an additional 1,768,949 shares during the period. Institutional investors own 45.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PAA shares. TD Securities lifted their target price on Plains All American Pipeline from $14.00 to $14.50 and gave the company a “buy” rating in a research note on Thursday. Barclays decreased their target price on Plains All American Pipeline from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. StockNews.com downgraded Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. UBS Group lifted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Credit Suisse Group raised Plains All American Pipeline from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $13.00 to $14.00 in a research note on Thursday, May 12th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.18.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $11.20 on Friday. The stock has a market capitalization of $7.90 billion, a PE ratio of 13.66 and a beta of 1.79. The business has a 50 day simple moving average of $10.60 and a two-hundred day simple moving average of $10.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.88. Plains All American Pipeline, L.P. has a 1-year low of $8.64 and a 1-year high of $12.10.

Plains All American Pipeline (NYSE:PAAGet Rating) last announced its earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.77% and a net margin of 1.36%. During the same period in the previous year, the business posted $0.23 earnings per share. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.11 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 7.77%. The ex-dividend date is Thursday, July 28th. Plains All American Pipeline’s dividend payout ratio (DPR) is 106.10%.

Insider Transactions at Plains All American Pipeline

In related news, Director Kevin S. Mccarthy bought 200,000 shares of the company’s stock in a transaction dated Thursday, June 23rd. The stock was purchased at an average price of $9.81 per share, for a total transaction of $1,962,000.00. Following the acquisition, the director now owns 200,000 shares in the company, valued at $1,962,000. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

Plains All American Pipeline Company Profile

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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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