Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 42.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,272 shares of the pipeline company’s stock after selling 20,853 shares during the period. Truist Financial Corp’s holdings in Plains All American Pipeline were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter worth about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter worth about $28,000. ORG Partners LLC increased its position in shares of Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares in the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter worth about $35,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $46,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAA has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. UBS Group raised their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.10.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $17.47 on Thursday. 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, L.P. has a 52-week low of $14.46 and a 52-week high of $19.17. The business’s 50-day moving average price is $17.57 and its 200 day moving average price is $17.67. The firm has a market cap of $12.25 billion, a P/E ratio of 15.06 and a beta of 1.60.

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

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date of this dividend is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

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.