Truist Financial Corp Sells 70,384 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Truist Financial Corp cut its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating) by 58.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,722 shares of the pipeline company’s stock after selling 70,384 shares during the quarter. Truist Financial Corp’s holdings in Plains All American Pipeline were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PAA. Financial Counselors Inc. grew its position in shares of Plains All American Pipeline by 5.5% during the second quarter. Financial Counselors Inc. now owns 19,177 shares of the pipeline company’s stock valued at $188,000 after purchasing an additional 1,000 shares in the last quarter. Roosevelt Investment Group LLC grew its position in shares of Plains All American Pipeline by 5.2% during the third quarter. Roosevelt Investment Group LLC now owns 20,200 shares of the pipeline company’s stock valued at $213,000 after purchasing an additional 1,000 shares in the last quarter. Lindbrook Capital LLC grew its position in Plains All American Pipeline by 1.1% in the second quarter. Lindbrook Capital LLC now owns 91,941 shares of the pipeline company’s stock worth $903,000 after acquiring an additional 1,011 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Plains All American Pipeline by 12.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,498 shares of the pipeline company’s stock worth $133,000 after acquiring an additional 1,454 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in Plains All American Pipeline by 9.7% in the second quarter. Cetera Advisors LLC now owns 23,226 shares of the pipeline company’s stock worth $228,000 after acquiring an additional 2,051 shares in the last quarter. 42.26% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $12.31 on Tuesday. The company has a market capitalization of $8.60 billion, a PE ratio of 8.49 and a beta of 1.69. Plains All American Pipeline, L.P. has a fifty-two week low of $9.10 and a fifty-two week high of $12.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.93 and a current ratio of 1.05. The company has a 50 day moving average price of $11.93 and a 200-day moving average price of $11.61.

Plains All American Pipeline (NYSE:PAA – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The pipeline company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $16.50 billion. Plains All American Pipeline had a net margin of 2.05% and a return on equity of 9.41%. Plains All American Pipeline’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 8.69%. The ex-dividend date is Monday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.22. Plains All American Pipeline’s dividend payout ratio is 60.00%.

Analyst Ratings Changes

PAA has been the subject of several recent research reports. Truist Financial lifted their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 2nd. Citigroup initiated coverage on Plains All American Pipeline in a research report on Thursday, December 8th. They issued a “buy” rating and a $14.00 price target for the company. StockNews.com lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, January 3rd. Morgan Stanley lifted their price target on Plains All American Pipeline from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 19th. Finally, TD Securities boosted their target price on Plains All American Pipeline from $14.50 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Plains All American Pipeline Profile

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Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment includes transporting crude oil and natural gas liquids (NGL) on pipelines, gathering systems, and trucks.