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

Brookfield Corp ON lowered its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,164,288 shares of the pipeline company’s stock after selling 595,225 shares during the quarter. Brookfield Corp ON’s holdings in Plains All American Pipeline were worth $72,334,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Plains All American Pipeline by 0.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares in the last quarter. Chickasaw Capital Management LLC increased its position in Plains All American Pipeline by 1.0% during the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after buying an additional 42,383 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after acquiring an additional 1,125,386 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Plains All American Pipeline by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock valued at $45,520,000 after acquiring an additional 48,799 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Plains All American Pipeline by 114.9% during the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after acquiring an additional 1,020,277 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $18.18 on Friday. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17. The firm has a market capitalization of $12.79 billion, a P/E ratio of 12.03 and a beta of 1.64. 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’s fifty day moving average price is $17.43 and its two-hundred day moving average price is $17.58.

Plains All American Pipeline (NYSE:PAA) last posted 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. The company had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. Plains All American Pipeline’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. 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 6.99%. Plains All American Pipeline’s dividend payout ratio (DPR) is 113.39%.

Wall Street Analysts Forecast Growth

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

Plains All American Pipeline 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.