Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 131,900 shares of the pipeline company’s stock after selling 4,925 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Plains All American Pipeline were worth $1,998,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PAA. ING Groep NV raised its position in Plains All American Pipeline by 12.2% in the third quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after purchasing an additional 332,000 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Plains All American Pipeline by 374.7% in the third quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock worth $3,522,000 after acquiring an additional 181,484 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Plains All American Pipeline by 14.3% in the third quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock worth $1,026,923,000 after acquiring an additional 8,406,683 shares in the last quarter. Spirit of America Management Corp NY grew its stake in shares of Plains All American Pipeline by 8.7% in the third quarter. Spirit of America Management Corp NY now owns 350,300 shares of the pipeline company’s stock worth $5,367,000 after acquiring an additional 28,000 shares in the last quarter. Finally, Clarus Group Inc. grew its stake in shares of Plains All American Pipeline by 34.8% during the third quarter. Clarus Group Inc. now owns 74,352 shares of the pipeline company’s stock worth $1,139,000 after purchasing an additional 19,188 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 1.4 %

NYSE:PAA traded up $0.24 on Wednesday, hitting $17.31. 2,537,394 shares of the company’s stock traded hands, compared to its average volume of 3,060,035. The company has a market cap of $12.14 billion, a PE ratio of 12.45 and a beta of 1.59. The firm has a 50-day moving average price of $16.23 and a 200-day moving average price of $15.63. Plains All American Pipeline, L.P. has a 1 year low of $11.88 and a 1 year high of $17.42. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the company posted $0.33 earnings per share. Plains All American Pipeline’s revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a $0.3175 dividend. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, January 30th. This represents a $1.27 annualized dividend and a yield of 7.34%. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PAA shares. Citigroup upped their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Truist Financial increased their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, StockNews.com raised shares of Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.56.

About Plains All American Pipeline

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.