Crescent Grove Advisors LLC Sells 13,800 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Crescent Grove Advisors LLC trimmed its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,144 shares of the pipeline company’s stock after selling 13,800 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $2,735,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after acquiring an additional 54,111 shares during the last quarter. FMR LLC boosted its position in shares of Plains All American Pipeline by 91.1% during the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after buying an additional 286,222 shares during the period. Syntax Research Inc. bought a new position in shares of Plains All American Pipeline during the third quarter valued at approximately $1,742,000. International Assets Investment Management LLC raised its holdings in shares of Plains All American Pipeline by 1,006.4% in the third quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock worth $1,164,000 after buying an additional 60,979 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after acquiring an additional 2,677,951 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PAA shares. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Bank of America started coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Barclays lifted their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Scotiabank reissued a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 10th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.92.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $20.39 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $14.35 billion, a PE ratio of 13.64 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 $21.00. The business’s fifty day simple moving average is $18.15 and its 200-day simple moving average is $17.80.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Analysts expect that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.45%. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

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.