Aviance Capital Partners LLC Cuts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Aviance Capital Partners LLC reduced its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,515 shares of the pipeline company’s stock after selling 18,139 shares during the period. Aviance Capital Partners LLC’s holdings in Plains All American Pipeline were worth $2,267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PAA. ORG Partners LLC grew its position in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 730 shares during the period. Axiom Advisory LLC lifted its stake in Plains All American Pipeline by 5.2% in the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 750 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 856 shares during the period. Thrivent Financial for Lutherans grew its holdings in Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after purchasing an additional 887 shares during the period. Finally, Private Advisor Group LLC increased its position in Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after buying an additional 927 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAA has been the subject of several recent research reports. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday. Finally, Bank of America assumed coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Trading Up 1.7 %

Shares of PAA opened at $17.47 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a 1-year low of $14.46 and a 1-year high of $19.17. The company has a market capitalization of $12.29 billion, a P/E ratio of 11.38 and a beta of 1.61. The firm’s 50 day simple moving average is $17.34 and its 200 day simple moving average is $17.53.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (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 during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Plains All American Pipeline, L.P. will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.27%. Plains All American Pipeline’s payout ratio is 113.39%.

Plains All American Pipeline Company 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.