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

Investment House LLC lowered its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 41.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 reporting period.

A number of other institutional investors also recently bought and sold shares of PAA. Capital Advisors Inc. OK purchased a new position in Plains All American Pipeline during the fourth quarter valued at $4,234,000. Mirae Asset Global Investments Co. Ltd. grew 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. ING Groep NV raised its stake 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 during the period. DAVENPORT & Co LLC purchased a new position in Plains All American Pipeline in the 4th quarter worth approximately $182,000. Finally, Envestnet Asset Management Inc. grew its holdings in Plains All American Pipeline by 374.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after buying an additional 181,484 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

PAA stock opened at $17.65 on Tuesday. The firm has a 50-day simple moving average of $17.30 and a two-hundred day simple moving average of $16.10. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 12.50 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. Plains All American Pipeline, L.P. has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its 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. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same period last year, the business earned $0.33 EPS. Plains All American Pipeline’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.34 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PAA shares. Citigroup upped their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 24th. Truist Financial upped their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. UBS Group upped their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Scotiabank began 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 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline has an average rating of “Moderate Buy” and an average target price of $18.96.

About Plains All American Pipeline

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.