Plains All American Pipeline, L.P. (NYSE:PAA) Holdings Reduced by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lowered its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,589,900 shares of the pipeline company’s stock after selling 200,000 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.37% of Plains All American Pipeline worth $39,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. IFP Advisors Inc increased its position in Plains All American Pipeline by 14.8% in the 3rd quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 674 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Plains All American Pipeline by 1.2% during the third quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock valued at $1,411,000 after purchasing an additional 1,089 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its holdings in Plains All American Pipeline by 1.3% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock worth $1,268,000 after purchasing an additional 1,112 shares during the period. Donoghue Forlines LLC grew its position in Plains All American Pipeline by 4.2% in the 3rd quarter. Donoghue Forlines LLC now owns 34,128 shares of the pipeline company’s stock valued at $523,000 after buying an additional 1,381 shares in the last quarter. Finally, CENTRAL TRUST Co increased its stake in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 2.3 %

NYSE PAA traded down $0.41 during trading on Tuesday, reaching $17.30. 1,390,666 shares of the company’s stock were exchanged, compared to its average volume of 3,401,183. The firm has a market capitalization of $12.13 billion, a PE ratio of 12.50 and a beta of 1.59. Plains All American Pipeline, L.P. has a fifty-two week low of $12.07 and a fifty-two week high of $19.03. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $17.30 and its 200-day simple moving average is $16.10.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.34 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.34%. Plains All American Pipeline’s payout ratio is 91.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PAA. Stifel Nicolaus upped their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com upgraded shares of Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 24th. Citigroup raised their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Finally, Truist Financial lifted their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.96.

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.