Infrastructure Capital Advisors LLC Trims Stock Position in Plains All American Pipeline Lp $PAA

Infrastructure Capital Advisors LLC lessened its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,959,828 shares of the company’s stock after selling 294,085 shares during the period. Plains All American Pipeline comprises 5.1% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 5th largest position. Infrastructure Capital Advisors LLC’s holdings in Plains All American Pipeline were worth $53,159,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PAA shares. Truist Financial started coverage on Plains All American Pipeline in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Scotiabank increased their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and increased their target price for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd. US Capital Advisors downgraded Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.93.

Plains All American Pipeline Price Performance

PAA opened at $21.58 on Thursday. Plains All American Pipeline Lp has a 12 month low of $15.69 and a 12 month high of $24.26. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market cap of $15.23 billion, a PE ratio of 16.47, a P/E/G ratio of 10.00 and a beta of 0.50. The firm has a 50 day simple moving average of $22.34.

Plains All American Pipeline (NASDAQ:PAA) last posted its earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion during the quarter. During the same quarter in the prior year, the company posted $0.39 EPS. Plains All American Pipeline’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 7.7%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 127.48%.

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.