Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Custom Index Systems LLC

Custom Index Systems LLC cut its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,404 shares of the pipeline company’s stock after selling 895 shares during the quarter. Custom Index Systems LLC’s holdings in Plains All American Pipeline were worth $1,083,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Axiom Advisory LLC grew its holdings in Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after buying an additional 750 shares during the last quarter. Eclectic Associates Inc. ADV lifted its position in shares of Plains All American Pipeline by 7.6% in the fourth quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 854 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 887 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Plains All American Pipeline by 0.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after purchasing an additional 1,047 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAA has been the topic of several analyst reports. Scotiabank reaffirmed a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Barclays boosted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Raymond James upped their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline Stock Down 5.5 %

Shares of NYSE:PAA opened at $19.80 on Friday. Plains All American Pipeline, L.P. has a 1 year low of $15.02 and a 1 year high of $21.00. The stock has a 50-day simple moving average of $18.39 and a 200-day simple moving average of $17.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market capitalization of $13.93 billion, a P/E ratio of 13.67 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.38 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.68%. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

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.