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

Crescent Grove Advisors LLC lessened its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 19.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,794 shares of the pipeline company’s stock after selling 36,476 shares during the period. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $2,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PAA. Sunbelt Securities Inc. acquired a new position in Plains All American Pipeline during the first quarter worth approximately $28,000. CENTRAL TRUST Co increased its holdings in shares of Plains All American Pipeline by 212.5% in the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 1,700 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $39,000. International Assets Investment Management LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $57,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analysts Set New Price Targets

PAA has been the topic of a number of recent research reports. 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 report on Friday. Citigroup boosted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Truist Financial lifted their price target on 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. The Goldman Sachs Group lifted their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday. Finally, Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.68.

Plains All American Pipeline Stock Down 1.4 %

Shares of NYSE PAA traded down $0.24 on Monday, hitting $17.51. The company had a trading volume of 4,600,857 shares, compared to its average volume of 3,322,500. Plains All American Pipeline, L.P. has a 12-month low of $12.07 and a 12-month high of $19.03. The business has a 50 day moving average of $16.82 and a two-hundred day moving average of $15.88. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $12.28 billion, a P/E ratio of 12.82 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.25 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

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.