Plains All American Pipeline Lp $PAA Shares Sold by Waverly Advisors LLC

Waverly Advisors LLC lessened its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 4.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 592,342 shares of the company’s stock after selling 30,453 shares during the quarter. Waverly Advisors LLC’s holdings in Plains All American Pipeline were worth $13,186,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PAA. Financial Life Planners purchased a new position in Plains All American Pipeline in the 1st quarter valued at about $27,000. Allied Private Wealth LLC purchased a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $33,000. Fulcrum Asset Management LLP purchased a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $50,000. Scarborough Advisors LLC purchased a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $80,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Plains All American Pipeline by 1,164.7% in the first quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock worth $85,000 after acquiring an additional 3,494 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on PAA shares. Weiss Ratings upgraded Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a report on Tuesday, August 25th. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and increased their target price for the company from $18.00 to $24.00 in a research report on Wednesday, June 3rd. US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, JPMorgan Chase & Co. upped their price target on Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Plains All American Pipeline has an average rating of “Hold” and an average price target of $24.08.

Plains All American Pipeline Trading Down 0.5%

PAA opened at $25.85 on Thursday. The stock has a market capitalization of $18.24 billion, a PE ratio of 7.16, a P/E/G ratio of 9.32 and a beta of 0.52. Plains All American Pipeline Lp has a one year low of $15.69 and a one year high of $26.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The business’s 50 day moving average price is $24.20 and its 200 day moving average price is $22.79.

Plains All American Pipeline (NASDAQ:PAA) last posted its earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.09). The business had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The firm’s revenue was up 66.3% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. As a group, equities research analysts expect that Plains All American Pipeline Lp will post 1.71 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Friday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.

Plains All American Pipeline Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.