First Trust Advisors LP Has $3.75 Million Holdings in Plains All American Pipeline Lp $PAA

First Trust Advisors LP lessened its holdings in Plains All American Pipeline Lp (NASDAQ:PAA) by 17.8% during the first quarter, HoldingsChannel.com reports. The firm owned 167,905 shares of the company’s stock after selling 36,298 shares during the period. First Trust Advisors LP’s holdings in Plains All American Pipeline were worth $3,749,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Plains All American Pipeline during the first quarter worth $80,000. Aviance Capital Partners LLC increased its stake in Plains All American Pipeline by 7.5% in the 1st quarter. Aviance Capital Partners LLC now owns 18,884 shares of the company’s stock valued at $422,000 after buying an additional 1,325 shares during the last quarter. Angeles Wealth Management LLC acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $4,305,000. Independent Financial Group LLC bought a new stake in Plains All American Pipeline during the 1st quarter worth about $305,000. Finally, D.A. Davidson & CO. lifted its position in Plains All American Pipeline by 1.6% during the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock worth $635,000 after buying an additional 453 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PAA. Truist Financial increased their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. US Capital Advisors downgraded Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company raised their price target on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.23.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $23.17 on Thursday. The stock has a market cap of $16.35 billion, a P/E ratio of 17.69, a P/E/G ratio of 7.91 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The company has a fifty day moving average price of $22.97 and a two-hundred day moving average price of $21.91. Plains All American Pipeline Lp has a one year low of $15.69 and a one year high of $25.03.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. Plains All American Pipeline’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, equities analysts predict that Plains All American Pipeline Lp will post 1.83 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.4175 per share. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 7.2%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.48%.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.