Rede Wealth LLC Trims Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Rede Wealth LLC decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,768 shares of the pipeline company’s stock after selling 2,475 shares during the period. Rede Wealth LLC’s holdings in Plains All American Pipeline were worth $355,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares during the period. Avior Wealth Management LLC boosted its position in shares of Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock valued at $139,000 after acquiring an additional 4,000 shares during the period. Westmount Partners LLC bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $177,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $186,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 3.0 %

Shares of NYSE PAA opened at $19.40 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 52 week low of $15.02 and a 52 week high of $21.00. The firm’s fifty day moving average is $18.62 and its 200 day moving average is $17.90. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 13.25 and a beta of 1.65.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.56 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 7.84%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 135.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PAA shares. Scotiabank restated a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline 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.