Wedbush Securities Inc. Has $560,000 Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Wedbush Securities Inc. trimmed its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 12.3% in the first quarter, HoldingsChannel reports. The firm owned 28,019 shares of the pipeline company’s stock after selling 3,926 shares during the period. Wedbush Securities Inc.’s holdings in Plains All American Pipeline were worth $560,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PAA. Invesco Ltd. lifted its stake in shares of Plains All American Pipeline by 4.6% in the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock valued at $475,301,000 after buying an additional 1,224,381 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after buying an additional 1,211,286 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock valued at $227,539,000 after buying an additional 75,509 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after buying an additional 630,141 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Plains All American Pipeline by 30.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after buying an additional 1,162,933 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PAA shares. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Wall Street Zen raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a “buy” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and an average price target of $20.75.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $18.68 on Friday. The company’s 50 day moving average is $17.91 and its 200-day moving average is $18.59. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a market cap of $13.14 billion, a P/E ratio of 25.59 and a beta of 0.68.

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

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.14%. Plains All American Pipeline’s dividend payout ratio is currently 163.44%.

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.