Atria Investments Inc Cuts Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Atria Investments Inc lowered its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,594 shares of the pipeline company’s stock after selling 1,326 shares during the quarter. Atria Investments Inc’s holdings in Plains All American Pipeline were worth $253,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the third quarter valued at approximately $28,000. ORG Partners LLC lifted its holdings in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 730 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the period. American National Bank increased its holdings in Plains All American Pipeline by 249.2% in the 2nd quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after purchasing an additional 3,110 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $17.94 on Friday. Plains All American Pipeline, L.P. has a 52 week low of $14.46 and a 52 week high of $19.17. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.62 billion, a P/E ratio of 16.02 and a beta of 1.61. The stock has a 50 day moving average of $17.37 and a 200-day moving average of $17.54.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, analysts expect that Plains All American Pipeline, L.P. will post 1.27 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.08%. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAA shares. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.82.

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.