Plains All American Pipeline Lp $PAA Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY reduced its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 24.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,300 shares of the company’s stock after selling 61,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in Plains All American Pipeline were worth $3,400,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PAA. Alps Advisors Inc. grew its stake in shares of Plains All American Pipeline by 2.2% during the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock worth $1,297,700,000 after purchasing an additional 1,663,908 shares during the period. Invesco Ltd. lifted its stake in shares of Plains All American Pipeline by 2.1% in the 3rd quarter. Invesco Ltd. now owns 33,280,692 shares of the company’s stock valued at $567,769,000 after purchasing an additional 677,959 shares during the period. JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock worth $122,814,000 after buying an additional 967,059 shares in the last quarter. BROOKFIELD Corp ON boosted its holdings in Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock worth $124,112,000 after buying an additional 1,076,291 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Plains All American Pipeline during the third quarter valued at $87,462,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 0.1%

PAA opened at $22.47 on Tuesday. The firm’s fifty day moving average is $20.67. Plains All American Pipeline Lp has a 52-week low of $15.57 and a 52-week high of $22.79. The stock has a market capitalization of $15.85 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 3.51 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same quarter in the previous year, the firm posted $0.42 EPS. Plains All American Pipeline’s revenue was down 12.2% compared to the same quarter last year.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.4%. Plains All American Pipeline’s payout ratio is currently 100.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America downgraded shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Wednesday, January 28th. Zacks Research cut Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Wells Fargo & Company lifted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Barclays upped their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Finally, UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.85.

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.