Waverly Advisors LLC Trims Stake in Plains All American Pipeline Lp $PAA

Waverly Advisors LLC lowered its position in Plains All American Pipeline Lp (NASDAQ:PAA) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 592,342 shares of the company’s stock after selling 30,453 shares during the period. Waverly Advisors LLC owned 0.08% of Plains All American Pipeline worth $13,186,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PAA. Parkside Financial Bank & Trust raised its stake in shares of Plains All American Pipeline by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 60,291 shares of the company’s stock worth $1,342,000 after purchasing an additional 392 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Plains All American Pipeline by 1.6% during the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock valued at $635,000 after purchasing an additional 453 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Plains All American Pipeline by 1.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company’s stock valued at $671,000 after purchasing an additional 509 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Plains All American Pipeline by 3.4% during the 2nd quarter. HB Wealth Management LLC now owns 15,988 shares of the company’s stock valued at $356,000 after purchasing an additional 525 shares during the last quarter. Finally, Summit Financial LLC lifted its stake in shares of Plains All American Pipeline by 1.0% in the 4th quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock worth $1,100,000 after purchasing an additional 599 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a report on Tuesday, August 25th. Mizuho lifted their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Truist Financial increased their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.08.

Plains All American Pipeline Trading Down 0.5%

PAA opened at $25.85 on Thursday. The firm has a market cap of $18.24 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 9.32 and a beta of 0.52. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $24.20 and a 200-day moving average price of $22.79. Plains All American Pipeline Lp has a 12 month low of $15.69 and a 12 month high of $26.11.

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

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.4175 per share. The ex-dividend date was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.5%. Plains All American Pipeline’s payout ratio is currently 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.