B. Riley Wealth Advisors Inc. Sells 79,996 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 78.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,420 shares of the pipeline company’s stock after selling 79,996 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Plains All American Pipeline were worth $389,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Axiom Advisory LLC grew its position in Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after buying an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Plains All American Pipeline by 5.1% in the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 887 shares during the period. Private Advisor Group LLC lifted its position in Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after purchasing an additional 927 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its stake in Plains All American Pipeline by 0.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after buying an additional 1,047 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PAA. Bank of America began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Price Performance

Shares of PAA opened at $16.94 on Friday. 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 stock has a market cap of $11.92 billion, a PE ratio of 15.13 and a beta of 1.64. Plains All American Pipeline, L.P. has a 12-month low of $15.02 and a 12-month high of $19.17. The business has a 50-day simple moving average of $17.44 and a two-hundred day simple moving average of $17.62.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.50%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 113.39%.

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.