40,815 Plains All American Pipeline Lp $PAA Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 9.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 400,343 shares of the company’s stock after selling 40,815 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Plains All American Pipeline were worth $9,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PAA. Allied Private Wealth LLC acquired a new stake in Plains All American Pipeline during the second quarter worth about $33,000. Bullseye Investment Management LLC bought a new position in Plains All American Pipeline in the 2nd quarter valued at about $44,000. MADDEN SECURITIES Corp bought a new position in Plains All American Pipeline in the 3rd quarter valued at about $52,000. Scarborough Advisors LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Plains All American Pipeline by 1,164.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock valued at $85,000 after buying an additional 3,494 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $24.31 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt-to-equity ratio of 0.84. Plains All American Pipeline Lp has a twelve month low of $16.50 and a twelve month high of $26.98. The company has a market cap of $17.15 billion, a P/E ratio of 20.81, a P/E/G ratio of 9.27 and a beta of 0.58. The business has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $23.04.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.44). Plains All American Pipeline had a net margin of 4.81% and a return on equity of 12.56%. The business had revenue of $15.17 billion during the quarter. During the same quarter in the previous year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, sell-side analysts forecast that Plains All American Pipeline Lp will post 1.60 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.9%. Plains All American Pipeline’s dividend payout ratio is 55.67%.

Wall Street Analysts Forecast Growth

PAA has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Mizuho increased their price target on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. Wall Street Zen cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Jefferies Financial Group lifted their price objective on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Finally, Zacks Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company’s systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.