Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,017 shares of the pipeline company’s stock after selling 13,378 shares during the quarter. LPL Financial LLC’s holdings in Plains All American Pipeline were worth $2,781,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PAA. North Star Investment Management Corp. raised its stake in shares of Plains All American Pipeline by 250.0% during the 1st quarter. North Star Investment Management Corp. now owns 2,800 shares of the pipeline company’s stock worth $35,000 after buying an additional 2,000 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $44,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $104,000. BDO Wealth Advisors LLC increased its position in shares of Plains All American Pipeline by 419.4% during the first quarter. BDO Wealth Advisors LLC now owns 8,310 shares of the pipeline company’s stock worth $104,000 after purchasing an additional 6,710 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Plains All American Pipeline during the second quarter worth approximately $116,000. 41.13% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $15.32 on Wednesday. The stock has a market cap of $10.70 billion, a PE ratio of 9.46 and a beta of 1.69. The company has a current ratio of 1.00, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a twelve month low of $10.17 and a twelve month high of $15.49. The stock has a fifty day simple moving average of $14.84 and a 200-day simple moving average of $13.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $11.60 billion during the quarter, compared to analysts’ expectations of $15.28 billion. Plains All American Pipeline had a return on equity of 9.89% and a net margin of 2.53%. The company’s revenue was down 29.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.28 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date was Friday, July 28th. Plains All American Pipeline’s dividend payout ratio is presently 66.05%.

Analyst Ratings Changes

Several analysts recently commented on the company. Mizuho boosted their price target on Plains All American Pipeline from $17.00 to $19.00 in a research report on Wednesday, July 12th. Royal Bank of Canada boosted their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 8th. TD Securities boosted their price target on Plains All American Pipeline from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. StockNews.com cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, Truist Financial boosted their price target on Plains All American Pipeline from $15.00 to $17.00 in a research report on Thursday, May 18th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.46.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.