Aviance Capital Partners LLC Has $2.20 Million Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Aviance Capital Partners LLC trimmed its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,145 shares of the pipeline company’s stock after selling 6,630 shares during the quarter. Aviance Capital Partners LLC’s holdings in Plains All American Pipeline were worth $2,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Capital Advisors Inc. OK acquired a new stake in shares of Plains All American Pipeline during the 4th quarter valued at about $4,234,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Plains All American Pipeline by 9.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after acquiring an additional 1,135,737 shares in the last quarter. ING Groep NV raised its stake in shares of Plains All American Pipeline by 12.2% in the 3rd quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after acquiring an additional 332,000 shares in the last quarter. DAVENPORT & Co LLC bought a new position in shares of Plains All American Pipeline in the 4th quarter valued at approximately $182,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Plains All American Pipeline by 374.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after acquiring an additional 181,484 shares in 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 topic of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Citigroup raised their price objective on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday. TD Securities lifted their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline currently has an average rating of “Moderate Buy” and a consensus target price of $19.08.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA traded up $0.12 during trading on Monday, hitting $17.61. 4,022,551 shares of the stock were exchanged, compared to its average volume of 3,463,333. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 15.18 and a beta of 1.58. The company’s fifty day simple moving average is $17.40 and its 200-day simple moving average is $16.16. Plains All American Pipeline, L.P. has a 1-year low of $12.50 and a 1-year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. Sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.21%. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

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.