Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. decreased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,833,062 shares of the pipeline company’s stock after selling 12,544 shares during the period. Westwood Holdings Group Inc. owned approximately 0.26% of Plains All American Pipeline worth $32,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sei Investments Co. increased its position in Plains All American Pipeline by 39.9% during the 2nd quarter. Sei Investments Co. now owns 207,802 shares of the pipeline company’s stock worth $3,711,000 after purchasing an additional 59,293 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of Plains All American Pipeline by 75.9% during the 2nd quarter. Bridges Investment Management Inc. now owns 136,937 shares of the pipeline company’s stock worth $2,446,000 after acquiring an additional 59,076 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Plains All American Pipeline during the 2nd quarter worth approximately $818,000. Brown Brothers Harriman & Co. boosted its stake in shares of Plains All American Pipeline by 31.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Plains All American Pipeline by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 312,593 shares of the pipeline company’s stock worth $5,583,000 after acquiring an additional 7,452 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 0.7 %

Shares of Plains All American Pipeline stock opened at $17.75 on Friday. Plains All American Pipeline, L.P. has a fifty-two week low of $14.25 and a fifty-two week high of $19.17. The firm has a market cap of $12.44 billion, a PE ratio of 15.30 and a beta of 1.60. The business’s fifty day moving average is $17.82 and its two-hundred day moving average is $17.60. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. Analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders 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 dividend on an annualized basis and a yield of 7.15%. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Analyst Ratings Changes

PAA has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. UBS Group boosted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.64.

Plains All American Pipeline Company 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.