Crescent Grove Advisors LLC Sells 68,151 Shares of Plains All American Pipeline Lp $PAA

Crescent Grove Advisors LLC reduced its position in Plains All American Pipeline Lp (NASDAQ:PAA) by 62.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,453 shares of the company’s stock after selling 68,151 shares during the period. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $926,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Life Planners bought a new stake in Plains All American Pipeline in the first quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares during the period. Aventura Private Wealth LLC bought a new position in shares of Plains All American Pipeline during the 4th quarter worth approximately $42,000. Fulcrum Asset Management LLP acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after acquiring an additional 3,149 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PAA shares. Morgan Stanley raised their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their price objective for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Wednesday. Scotiabank raised their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and an average price target of $23.08.

Plains All American Pipeline Price Performance

PAA stock opened at $23.87 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 11.01 and a beta of 0.50. The business’s fifty day moving average price is $22.64 and its two-hundred day moving average price is $21.36. Plains All American Pipeline Lp has a fifty-two week low of $15.69 and a fifty-two week high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion during the quarter. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Plains All American Pipeline Lp will post 1.55 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.4175 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 7.0%. Plains All American Pipeline’s payout ratio is 127.48%.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.