Wealthspire Advisors LLC Sells 17,250 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Wealthspire Advisors LLC lowered its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 15.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in shares of Plains All American Pipeline by 5.4% during the third quarter. Commonwealth Equity Services LLC now owns 124,664 shares of the pipeline company’s stock worth $1,910,000 after buying an additional 6,395 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Plains All American Pipeline by 36.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,408 shares of the pipeline company’s stock worth $328,000 after purchasing an additional 5,761 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Plains All American Pipeline by 1.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 346,717 shares of the pipeline company’s stock valued at $5,312,000 after buying an additional 3,483 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Plains All American Pipeline by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 131,708 shares of the pipeline company’s stock valued at $2,018,000 after buying an additional 4,590 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Securities raised their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday. Truist Financial increased their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. StockNews.com downgraded Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus lifted their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.15.

Plains All American Pipeline Price Performance

Shares of PAA traded up $0.12 during mid-day trading on Thursday, reaching $17.78. 2,211,727 shares of the company’s stock were exchanged, compared to its average volume of 3,433,967. 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 52-week low of $12.50 and a 52-week high of $19.03. The company 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 50-day simple moving average of $17.47 and a two-hundred day simple moving average of $16.20.

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

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.14%. Plains All American Pipeline’s payout ratio is currently 109.48%.

Plains All American Pipeline Company 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.