Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lessened its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,268 shares of the pipeline company’s stock after selling 1,970 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Plains All American Pipeline were worth $344,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. ORG Partners LLC raised its position in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after buying an additional 730 shares during the period. Private Advisor Group LLC raised its position in Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after purchasing an additional 927 shares during the period. Wealth Alliance Advisory Group LLC lifted its stake in shares of Plains All American Pipeline by 1.4% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 87,927 shares of the pipeline company’s stock valued at $1,570,000 after purchasing an additional 1,198 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Plains All American Pipeline by 9.8% during the 2nd quarter. HB Wealth Management LLC now owns 14,599 shares of the pipeline company’s stock worth $261,000 after purchasing an additional 1,308 shares during the period. Finally, Mather Group LLC. grew its holdings in shares of Plains All American Pipeline by 31.5% during the 2nd quarter. Mather Group LLC. now owns 5,676 shares of the pipeline company’s stock worth $100,000 after purchasing an additional 1,361 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAA. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, UBS Group boosted their target price on 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.64.

Plains All American Pipeline Stock Down 0.7 %

PAA stock opened at $17.25 on Tuesday. The company’s 50 day moving average is $18.00 and its two-hundred day moving average is $17.53. 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 current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.09 billion, a P/E ratio of 14.87 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. Plains All American Pipeline’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Research 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

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.