Wealthspire Advisors LLC Lowers Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Wealthspire Advisors LLC cut its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,750 shares of the pipeline company’s stock after selling 17,250 shares during the quarter. Wealthspire Advisors LLC’s holdings in Plains All American Pipeline were worth $1,420,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PAA. CENTRAL TRUST Co raised its position in Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the period. Fortitude Family Office LLC purchased a new position in Plains All American Pipeline in the 4th quarter valued at about $39,000. Briaud Financial Planning Inc acquired a new stake in Plains All American Pipeline in the 3rd quarter worth about $58,000. Provence Wealth Management Group purchased a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $62,000. Finally, Allworth Financial LP raised its holdings in shares of Plains All American Pipeline by 451.1% during the third quarter. Allworth Financial LP now owns 6,244 shares of the pipeline company’s stock valued at $96,000 after acquiring an additional 5,111 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PAA. Truist Financial lifted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group increased their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. 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 Friday, April 12th. Finally, TD Securities raised their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has an average rating of “Moderate Buy” and an average target price of $19.15.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA traded up $0.12 during mid-day trading on Thursday, hitting $17.78. 2,211,727 shares of the company were exchanged, compared to its average volume of 3,433,967. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 15.33 and a beta of 1.58. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 1-year low of $12.50 and a 1-year high of $19.03. The stock has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $16.20.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.14%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 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.