Envestnet Asset Management Inc. Sells 120,321 Shares of Plains All American Pipeline, L.P. $PAA

Envestnet Asset Management Inc. trimmed its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 33.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,236 shares of the pipeline company’s stock after selling 120,321 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Plains All American Pipeline were worth $4,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Plains All American Pipeline in the 3rd quarter worth approximately $33,000. Caldwell Trust Co purchased a new position in shares of Plains All American Pipeline in the third quarter valued at $38,000. Global Retirement Partners LLC increased its position in Plains All American Pipeline by 468.7% in the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 2,128 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Plains All American Pipeline by 93.2% during the second quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the pipeline company’s stock valued at $78,000 after purchasing an additional 2,041 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new position in Plains All American Pipeline during the second quarter valued at $96,000. 41.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PAA shares. Citigroup boosted their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Royal Bank Of Canada lifted their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, January 28th. Wells Fargo & Company raised their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Finally, Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.18.

Plains All American Pipeline Trading Down 0.3%

PAA opened at $20.82 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock’s 50 day moving average price is $18.98 and its 200-day moving average price is $17.77. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.06. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 28.52 and a beta of 0.60.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, February 6th. The pipeline company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). 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 posted $0.42 earnings per share. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. On average, equities analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.0%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio is 100.60%.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.