Prasad Wealth Partners LLC Lowers Stake in Plains All American Pipeline, L.P. $PAA

Prasad Wealth Partners LLC lessened its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,677 shares of the pipeline company’s stock after selling 632 shares during the period. Prasad Wealth Partners LLC’s holdings in Plains All American Pipeline were worth $269,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in Plains All American Pipeline by 31.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company’s stock valued at $879,000 after acquiring an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. grew its position in Plains All American Pipeline by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company’s stock valued at $1,127,000 after acquiring an additional 2,891 shares during the period. Stratos Wealth Partners LTD. grew its position in Plains All American Pipeline by 32.1% during the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company’s stock valued at $566,000 after acquiring an additional 6,874 shares during the period. Adams Asset Advisors LLC grew its position in Plains All American Pipeline by 3.2% during the second quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock valued at $14,435,000 after acquiring an additional 24,750 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the first quarter worth about $218,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAA shares. Zacks Research raised Plains All American Pipeline to a “hold” rating in a research report on Monday, August 11th. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Citigroup set a $18.00 target price on Plains All American Pipeline and gave the stock a “neutral” rating in a research report on Friday, August 8th. UBS Group set a $25.00 target price on Plains All American Pipeline and gave the stock a “buy” rating in a research report on Tuesday, July 15th. Finally, Mizuho set a $22.00 target price on Plains All American Pipeline and gave the stock an “outperform” rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.58.

Plains All American Pipeline Trading Down 0.7%

NYSE:PAA opened at $16.71 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The business’s 50-day simple moving average is $17.55 and its 200 day simple moving average is $17.75. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 22.89 and a beta of 0.72.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same quarter in the previous year, the company earned $0.31 EPS. Plains All American Pipeline’s revenue was down 16.6% on a year-over-year basis. As a group, sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 9.1%. Plains All American Pipeline’s dividend payout ratio is presently 172.73%.

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.