Prospect Financial Services LLC Decreases Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Prospect Financial Services LLC decreased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 72,274 shares of the pipeline company’s stock after selling 2,864 shares during the quarter. Prospect Financial Services LLC’s holdings in Plains All American Pipeline were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Plains All American Pipeline by 69.4% in the first quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after acquiring an additional 747,852 shares during the period. Sei Investments Co. bought a new position in shares of Plains All American Pipeline in the first quarter worth about $2,608,000. FORVIS Wealth Advisors LLC purchased a new position in Plains All American Pipeline in the 1st quarter worth approximately $3,227,000. Miller Howard Investments Inc. NY boosted its stake in Plains All American Pipeline by 4.2% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,499,924 shares of the pipeline company’s stock worth $43,899,000 after purchasing an additional 99,915 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $1,944,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA opened at $17.38 on Wednesday. The business has a fifty day moving average of $17.57 and a 200 day moving average of $17.67. The stock has a market cap of $12.18 billion, a P/E ratio of 14.98 and a beta of 1.60. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 52-week low of $14.46 and a 52-week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. During the same quarter last year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date of this dividend is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAA. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Wednesday, September 4th. UBS Group upped their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.10.

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.