Avidian Wealth Enterprises LLC Sells 911 Shares of Plains All American Pipeline, L.P. $PAA

Avidian Wealth Enterprises LLC trimmed its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,955 shares of the pipeline company’s stock after selling 911 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Plains All American Pipeline were worth $512,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stephens Inc. AR lifted its stake in shares of Plains All American Pipeline by 19.5% during the 2nd quarter. Stephens Inc. AR now owns 111,785 shares of the pipeline company’s stock worth $2,048,000 after acquiring an additional 18,247 shares during the last quarter. Arista Wealth Management LLC bought a new stake in shares of Plains All American Pipeline during the 2nd quarter worth approximately $213,000. Stratos Wealth Partners LTD. lifted its stake in shares of Plains All American Pipeline by 10.9% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 31,352 shares of the pipeline company’s stock worth $574,000 after acquiring an additional 3,069 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in shares of Plains All American Pipeline by 22.5% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 40,820 shares of the pipeline company’s stock worth $748,000 after acquiring an additional 7,486 shares during the last quarter. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Plains All American Pipeline during the 2nd quarter worth approximately $71,000. 41.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wolfe Research reissued a “peer perform” rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a research note on Monday, September 8th. Citigroup set a $18.00 price target on Plains All American Pipeline and gave the stock a “neutral” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. decreased their target price on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 18th. Finally, Zacks Research raised Plains All American Pipeline to a “hold” rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.73.

Plains All American Pipeline Trading Up 0.2%

Shares of NYSE PAA opened at $16.51 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $17.11 and a two-hundred day simple moving average of $17.48. The firm has a market cap of $11.61 billion, a PE ratio of 22.62 and a beta of 0.72. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period in the prior year, the firm posted $0.31 EPS. Plains All American Pipeline’s revenue for the quarter was down 16.6% on a year-over-year basis. Analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.2%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 172.73%.

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.