Westwood Holdings Group Inc. Lowers Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Westwood Holdings Group Inc. trimmed its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,697,791 shares of the pipeline company’s stock after selling 124,117 shares during the period. Westwood Holdings Group Inc. owned about 0.24% of Plains All American Pipeline worth $33,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Plains All American Pipeline by 107.0% in the first 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. National Bank of Canada FI purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at about $27,000. North Capital Inc. purchased a new stake in shares of Plains All American Pipeline in the first quarter worth about $61,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Plains All American Pipeline in the first quarter worth about $68,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth about $71,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PAA shares. Mizuho set a $22.00 target price on Plains All American Pipeline and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. Wolfe Research reiterated a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Scotiabank decreased their target price on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research report on Thursday, June 5th. Citigroup decreased their target price on Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. boosted their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.75.

Plains All American Pipeline Trading Down 0.9%

PAA opened at $17.76 on Wednesday. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 24.33 and a beta of 0.73. The stock’s 50 day moving average price is $18.11 and its 200-day moving average price is $18.54. 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.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, equities analysts forecast 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 Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.6%. Plains All American Pipeline’s dividend payout ratio is currently 163.44%.

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.