Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,768,057 shares of the pipeline company’s stock after selling 372,931 shares during the quarter. Pathstone Holdings LLC’s holdings in Plains All American Pipeline were worth $30,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $27,000. National Bank of Canada FI bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth $27,000. Jones Financial Companies Lllp grew its holdings in shares of Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after acquiring an additional 3,368 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Plains All American Pipeline during the fourth quarter valued at $97,000. Finally, Rothschild Investment LLC boosted its position in Plains All American Pipeline by 66.7% during the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company’s stock valued at $162,000 after purchasing an additional 3,800 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of analyst reports. StockNews.com cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup lowered their price target on Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Barclays restated an “underweight” rating and set a $18.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. Finally, Scotiabank reduced their price objective on Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.40.

Plains All American Pipeline Trading Up 2.6%

Shares of NYSE:PAA opened at $17.58 on Wednesday. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-week high of $21.00. The company has a market capitalization of $12.37 billion, a P/E ratio of 24.08 and a beta of 0.70. The company has a 50-day simple moving average of $18.25 and a 200 day simple moving average of $18.43. 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 (NYSE:PAA) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (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%. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.52 annualized dividend and a yield of 8.65%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 163.44%.

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.