Plains All American Pipeline, L.P. (NYSE:PAA) Stake Lessened by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC lessened its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,279 shares of the pipeline company’s stock after selling 8,110 shares during the period. Plains All American Pipeline comprises approximately 0.9% of Chung Wu Investment Group LLC’s portfolio, making the stock its 27th biggest position. Chung Wu Investment Group LLC’s holdings in Plains All American Pipeline were worth $786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its stake in Plains All American Pipeline by 4.7% during the 4th quarter. Larson Financial Group LLC now owns 13,083 shares of the pipeline company’s stock valued at $223,000 after acquiring an additional 583 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Capital Advisory Group Advisory Services LLC boosted its holdings in shares of Plains All American Pipeline by 2.5% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company’s stock worth $569,000 after purchasing an additional 685 shares during the period. World Investment Advisors boosted its holdings in shares of Plains All American Pipeline by 4.2% during the fourth quarter. World Investment Advisors now owns 21,100 shares of the pipeline company’s stock worth $360,000 after purchasing an additional 850 shares during the period. Finally, US Bancorp DE grew its position in Plains All American Pipeline by 0.8% during the fourth quarter. US Bancorp DE now owns 126,392 shares of the pipeline company’s stock valued at $2,159,000 after purchasing an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Down 0.9%

Shares of PAA stock opened at $17.95 on Thursday. The firm has a market capitalization of $12.62 billion, a P/E ratio of 24.59 and a beta of 0.66. Plains All American Pipeline, L.P. has a 1 year low of $15.58 and a 1 year high of $21.00. The firm’s fifty day simple moving average is $17.36 and its 200 day simple moving average is $18.40. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. As a group, sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.47%. Plains All American Pipeline’s dividend payout ratio is 163.44%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAA. JPMorgan Chase & Co. increased their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 16th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a report on Friday, May 9th. Wall Street Zen upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus target price of $20.50.

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.