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

Spirit of America Management Corp NY lessened its holdings 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 13F filing with the Securities and Exchange Commission. The fund owned 189,300 shares of the company’s stock after selling 61,000 shares during the period. 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 quarter.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in Plains All American Pipeline in the first quarter valued at about $260,000. Geode Capital Management LLC grew its stake in shares of Plains All American Pipeline by 0.9% during the second quarter. Geode Capital Management LLC now owns 602,204 shares of the company’s stock worth $11,032,000 after acquiring an additional 5,145 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Plains All American Pipeline by 44.3% during the second quarter. SG Americas Securities LLC now owns 12,632 shares of the company’s stock worth $231,000 after acquiring an additional 3,880 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Plains All American Pipeline by 19.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 53,334 shares of the company’s stock valued at $977,000 after acquiring an additional 8,559 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Plains All American Pipeline in the 2nd quarter valued at approximately $1,186,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PAA. Bank of America cut shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a research note on Wednesday, January 28th. Barclays raised their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Truist Financial assumed coverage on shares of Plains All American Pipeline in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective for the company. Royal Bank Of Canada boosted their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Finally, Citigroup upped their target price on Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and a consensus price target of $21.85.

Plains All American Pipeline Trading Up 0.1%

Shares of NASDAQ:PAA opened at $22.47 on Tuesday. Plains All American Pipeline Lp has a twelve month low of $15.57 and a twelve month high of $22.79. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a market cap of $15.85 billion, a P/E ratio of 13.54, a PEG ratio of 3.51 and a beta of 0.58. The stock has a 50 day simple moving average of $20.67.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. The business’s revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS.

Plains All American Pipeline Increases Dividend

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

About Plains All American Pipeline

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.