Nomura Holdings Inc. Sells 80,300 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Nomura Holdings Inc. cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 650,000 shares of the pipeline company’s stock after selling 80,300 shares during the period. Nomura Holdings Inc. owned 0.09% of Plains All American Pipeline worth $9,848,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PAA. Janney Montgomery Scott LLC grew its position in Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock worth $1,411,000 after acquiring an additional 1,089 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Plains All American Pipeline by 8.2% in the third quarter. PNC Financial Services Group Inc. now owns 199,206 shares of the pipeline company’s stock worth $3,052,000 after purchasing an additional 15,100 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Plains All American Pipeline by 374.7% during the third quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock worth $3,522,000 after purchasing an additional 181,484 shares during the last quarter. Provence Wealth Management Group acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $62,000. Finally, Institutional & Family Asset Management LLC increased its stake in shares of Plains All American Pipeline by 22.8% in the third quarter. Institutional & Family Asset Management LLC now owns 562,058 shares of the pipeline company’s stock valued at $8,611,000 after buying an additional 104,345 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Up 0.2 %

Shares of Plains All American Pipeline stock opened at $16.78 on Wednesday. Plains All American Pipeline, L.P. has a 12 month low of $13.20 and a 12 month high of $19.03. The business has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $16.51. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. The stock has a market cap of $11.76 billion, a PE ratio of 11.71 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Research analysts predict that Plains All American Pipeline, L.P. will post 1.29 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.3175 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.57%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PAA. TD Securities increased their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Morgan Stanley increased their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Citigroup boosted their price objective on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. UBS Group increased their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Stifel Nicolaus boosted their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.38.

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.