Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC reduced its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the pipeline company’s stock after selling 2,750 shares during the period. Wealthspire Advisors LLC’s holdings in Plains All American Pipeline were worth $1,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PAA. UBS Group AG boosted its holdings in Plains All American Pipeline by 89.3% in the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after purchasing an additional 4,035,328 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Plains All American Pipeline by 114.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after buying an additional 1,020,277 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Plains All American Pipeline by 69.4% in the first quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after buying an additional 747,852 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Plains All American Pipeline in the fourth quarter worth about $6,112,000. Finally, Blackstone Inc. raised its position in Plains All American Pipeline by 1.4% during the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after acquiring an additional 318,944 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PAA. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. UBS Group raised their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Morgan Stanley lifted their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.64.

Plains All American Pipeline Stock Up 1.7 %

PAA opened at $17.71 on Friday. The company has a market cap of $12.42 billion, a PE ratio of 15.27 and a beta of 1.60. Plains All American Pipeline, L.P. has a twelve month low of $14.25 and a twelve month high of $19.17. The company has a 50-day moving average price of $17.89 and a 200 day moving average price of $17.56. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.3175 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 7.17%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Plains All American Pipeline 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.