US Bancorp DE Reduces Position in Plains All American Pipeline, L.P. $PAA

US Bancorp DE decreased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,242 shares of the pipeline company’s stock after selling 3,150 shares during the quarter. US Bancorp DE’s holdings in Plains All American Pipeline were worth $2,258,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PAA. Farther Finance Advisors LLC grew its holdings in shares of Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock worth $26,000 after buying an additional 657 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Plains All American Pipeline by 61.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company’s stock worth $1,521,000 after buying an additional 28,916 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Plains All American Pipeline during the first quarter worth $302,000. Inscription Capital LLC purchased a new stake in shares of Plains All American Pipeline during the first quarter worth $501,000. Finally, Advisor Resource Council purchased a new stake in shares of Plains All American Pipeline during the first quarter worth $291,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 1.3%

Shares of NYSE:PAA opened at $16.09 on Thursday. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The firm’s 50 day moving average price is $17.27 and its 200 day moving average price is $17.59. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 22.04 and a beta of 0.72.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period in the prior year, the company earned $0.31 earnings per share. The firm’s revenue was down 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.38 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 9.4%. Plains All American Pipeline’s payout ratio is currently 172.73%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PAA shares. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an “outperform” rating in a report on Wednesday, June 18th. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, September 8th. Wolfe Research reissued a “peer perform” rating on shares of Plains All American Pipeline in a report on Friday, July 25th. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Tuesday, July 15th. Finally, Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

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.