Wealth Alliance Sells 4,938 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Wealth Alliance cut its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 18.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,053 shares of the pipeline company’s stock after selling 4,938 shares during the period. Wealth Alliance’s holdings in Plains All American Pipeline were worth $394,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. DRW Securities LLC bought a new stake in Plains All American Pipeline during the 4th quarter valued at $1,661,000. BNP Paribas Financial Markets boosted its position in Plains All American Pipeline by 69.4% during the first quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock valued at $32,044,000 after purchasing an additional 747,852 shares in the last quarter. Sei Investments Co. bought a new stake in Plains All American Pipeline during the first quarter valued at about $2,608,000. FORVIS Wealth Advisors LLC purchased a new position in Plains All American Pipeline in the first quarter valued at about $3,227,000. Finally, Miller Howard Investments Inc. NY raised its holdings in Plains All American Pipeline by 4.2% in the first quarter. Miller Howard Investments Inc. NY now owns 2,499,924 shares of the pipeline company’s stock worth $43,899,000 after purchasing an additional 99,915 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Shares of PAA opened at $17.87 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90. The company’s fifty day moving average price is $17.83 and its 200-day moving average price is $17.59. Plains All American Pipeline, L.P. has a 1-year low of $14.25 and a 1-year high of $19.17. The firm has a market capitalization of $12.53 billion, a PE ratio of 15.41 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The business had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $12.32 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 7.11%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. UBS Group lifted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley increased their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average target price of $19.64.

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.