Cerity Partners LLC Has $2.45 Million Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Cerity Partners LLC grew its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,455 shares of the pipeline company’s stock after purchasing an additional 10,738 shares during the period. Cerity Partners LLC’s holdings in Plains All American Pipeline were worth $2,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in shares of Plains All American Pipeline by 109,124.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 46,409,609 shares of the pipeline company’s stock worth $545,777,000 after acquiring an additional 46,367,119 shares in the last quarter. Blackstone Inc. boosted its position in shares of Plains All American Pipeline by 131.6% during the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock worth $371,771,000 after acquiring an additional 13,787,485 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Plains All American Pipeline by 14.3% during the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after acquiring an additional 8,406,683 shares in the last quarter. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 38.9% during the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after acquiring an additional 4,880,244 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Plains All American Pipeline by 41.3% during the 4th quarter. Morgan Stanley now owns 13,389,097 shares of the pipeline company’s stock worth $157,456,000 after acquiring an additional 3,915,370 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PAA shares. Truist Financial increased their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Scotiabank started coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup increased their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, StockNews.com downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plains All American Pipeline presently has an average rating of “Moderate Buy” and a consensus price target of $18.96.

Plains All American Pipeline Price Performance

PAA stock opened at $17.69 on Friday. The company has a fifty day moving average price of $16.99 and a 200-day moving average price of $15.93. The company has a market capitalization of $12.40 billion, a P/E ratio of 12.73 and a beta of 1.59. Plains All American Pipeline, L.P. has a 52-week low of $12.07 and a 52-week high of $19.03. 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 (NYSE:PAA) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. As a group, equities analysts expect that Plains All American Pipeline, L.P. will post 1.26 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is currently 91.37%.

About Plains All American Pipeline

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.