Plains All American Pipeline Lp $PAA Position Lowered by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY decreased its holdings in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,854,516 shares of the company’s stock after selling 24,442 shares during the quarter. Plains All American Pipeline makes up approximately 1.5% of Miller Howard Investments Inc. NY’s holdings, making the stock its 23rd biggest holding. Miller Howard Investments Inc. NY owned 0.40% of Plains All American Pipeline worth $51,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PAA. NewEdge Advisors LLC bought a new position in Plains All American Pipeline in the first quarter worth about $260,000. Guggenheim Capital LLC lifted its holdings in Plains All American Pipeline by 5.9% in the second quarter. Guggenheim Capital LLC now owns 46,288 shares of the company’s stock worth $848,000 after acquiring an additional 2,592 shares during the last quarter. First Trust Advisors LP lifted its holdings in Plains All American Pipeline by 4.1% in the second quarter. First Trust Advisors LP now owns 404,921 shares of the company’s stock worth $7,418,000 after acquiring an additional 16,096 shares during the last quarter. Glenview Trust co bought a new position in Plains All American Pipeline in the second quarter worth about $404,000. Finally, HUB Investment Partners LLC lifted its holdings in Plains All American Pipeline by 5.6% in the second quarter. HUB Investment Partners LLC now owns 91,113 shares of the company’s stock worth $1,669,000 after acquiring an additional 4,839 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAA. Citigroup raised their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Barclays raised their target price on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Plains All American Pipeline in a report on Monday, December 29th. Mizuho set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, January 23rd. Finally, Wall Street Zen cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.08.

Plains All American Pipeline Stock Performance

Shares of NASDAQ:PAA opened at $21.02 on Monday. The company has a 50 day moving average price of $21.33. Plains All American Pipeline Lp has a 52 week low of $15.69 and a 52 week high of $22.79. The firm has a market capitalization of $14.83 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 2.49 and a beta of 0.53. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.4175 dividend. The ex-dividend date is Friday, May 1st. This represents a $1.67 annualized dividend and a dividend yield of 7.9%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 100.60%.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.