Aviance Capital Partners LLC Cuts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Aviance Capital Partners LLC lowered its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,515 shares of the pipeline company’s stock after selling 18,139 shares during the period. Aviance Capital Partners LLC’s holdings in Plains All American Pipeline were worth $2,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its stake in Plains All American Pipeline by 5.1% in 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 during the period. ING Groep NV boosted its stake in shares of Plains All American Pipeline by 29.1% during the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after purchasing an additional 297,937 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Plains All American Pipeline by 6.2% in the third quarter. Apollon Wealth Management LLC now owns 46,610 shares of the pipeline company’s stock worth $810,000 after purchasing an additional 2,731 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Plains All American Pipeline by 15.6% in the third quarter. Lindbrook Capital LLC now owns 90,388 shares of the pipeline company’s stock worth $1,570,000 after buying an additional 12,207 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in Plains All American Pipeline during the 3rd quarter valued at $4,597,000. Institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

PAA has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Bank of America started coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.82.

Plains All American Pipeline Stock Up 1.7 %

Shares of Plains All American Pipeline stock opened at $17.47 on Tuesday. Plains All American Pipeline, L.P. has a 1 year low of $14.46 and a 1 year high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50-day moving average of $17.34 and a 200 day moving average of $17.53. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 11.38 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last released its 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 during the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.27%. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

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.