Westwood Holdings Group Inc. Sells 52,280 Shares of Plains All American Pipeline, L.P. $PAA

Westwood Holdings Group Inc. cut its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.1% in the 2nd quarter, Holdings Channel reports. The fund owned 1,645,511 shares of the pipeline company’s stock after selling 52,280 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Plains All American Pipeline were worth $30,146,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Plains All American Pipeline by 76.1% in the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 761 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Plains All American Pipeline during the 2nd quarter valued at about $40,000. Atwood & Palmer Inc. bought a new stake in Plains All American Pipeline in the 2nd quarter worth approximately $42,000. Ameritas Advisory Services LLC purchased a new stake in Plains All American Pipeline in the second quarter worth approximately $58,000. Finally, Hilltop National Bank purchased a new stake in Plains All American Pipeline in the second quarter worth approximately $60,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 0.9%

PAA opened at $17.76 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 52 week low of $15.57 and a 52 week high of $21.00. The stock has a market cap of $12.53 billion, a PE ratio of 24.33 and a beta of 0.59. The business has a 50 day moving average of $16.83 and a 200-day moving average of $17.48.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. Equities research 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date was Friday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 125.62%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PAA shares. Morgan Stanley lifted their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Barclays decreased their target price on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Raymond James Financial restated a “strong-buy” rating and set a $22.00 price target (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. JPMorgan Chase & Co. reduced their price objective on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th. Finally, Scotiabank lowered their target price on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.55.

Plains All American Pipeline Company 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.