Plains All American Pipeline, L.P. (NYSE:PAA) Position Reduced by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 16.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 234,728 shares of the pipeline company’s stock after selling 47,457 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Plains All American Pipeline were worth $3,556,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PAA. Commonwealth Equity Services LLC increased its holdings in Plains All American Pipeline by 5.4% in 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 last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Plains All American Pipeline by 36.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,408 shares of the pipeline company’s stock worth $328,000 after buying an additional 5,761 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Plains All American Pipeline by 1.0% during 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 purchasing an additional 3,483 shares during the last quarter. Independent Advisor Alliance grew its holdings in Plains All American Pipeline by 224.9% during the third quarter. Independent Advisor Alliance now owns 72,764 shares of the pipeline company’s stock valued at $1,115,000 after purchasing an additional 50,371 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Plains All American Pipeline by 3.6% during 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 purchasing an additional 4,590 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PAA. UBS Group increased their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 12th. Truist Financial increased their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Stifel Nicolaus increased their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup increased their price target 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. Finally, Scotiabank assumed coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $18.96.

Plains All American Pipeline Price Performance

Shares of NYSE PAA traded up $0.26 during mid-day trading on Friday, reaching $17.49. The company had a trading volume of 5,599,907 shares, compared to its average volume of 4,457,181. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. Plains All American Pipeline, L.P. has a one year low of $12.07 and a one year high of $19.03. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 12.58 and a beta of 1.58. The business’s 50-day simple moving average is $17.35 and its 200 day simple moving average is $16.13.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.32 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.26%. Plains All American Pipeline’s dividend payout ratio is presently 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.