Investment House LLC Cuts Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Investment House LLC lowered its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 41.7% in the fourth quarter, Holdings Channel reports. The firm owned 15,294 shares of the pipeline company’s stock after selling 10,923 shares during the period. Investment House LLC’s holdings in Plains All American Pipeline were worth $232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Plains All American Pipeline by 14.3% during the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after purchasing an additional 8,406,683 shares during the period. Blackstone Inc. raised its stake in shares of Plains All American Pipeline by 131.6% during the third quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock valued at $371,771,000 after purchasing an additional 13,787,485 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after purchasing an additional 1,135,737 shares in the last quarter. Pathstone Family Office LLC boosted its stake in shares of Plains All American Pipeline by 2.4% in the third quarter. Pathstone Family Office LLC now owns 3,867,152 shares of the pipeline company’s stock valued at $59,245,000 after purchasing an additional 89,124 shares during the period. Finally, ING Groep NV grew its holdings in Plains All American Pipeline by 12.2% during the 3rd quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after purchasing an additional 332,000 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PAA. The Goldman Sachs Group boosted their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Citigroup raised their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Truist Financial raised their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. UBS Group boosted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Scotiabank assumed coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Moderate Buy” and an average target price of $18.96.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.65 on Tuesday. The stock has a market cap of $12.37 billion, a P/E ratio of 12.50 and a beta of 1.59. The firm’s 50-day simple moving average is $17.30 and its 200 day simple moving average is $16.10. Plains All American Pipeline, L.P. has a fifty-two week low of $12.07 and a fifty-two week high of $19.03. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. Plains All American Pipeline’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. Equities analysts expect that Plains All American Pipeline, L.P. will post 1.34 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

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.