Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC trimmed its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,051 shares of the pipeline company’s stock after selling 4,765 shares during the quarter. CFM Wealth Partners LLC’s holdings in Plains All American Pipeline were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the period. Citigroup Inc. boosted its stake in shares of Plains All American Pipeline by 48.9% during the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after acquiring an additional 1,125,386 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Plains All American Pipeline during the 3rd quarter worth $11,634,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock worth $7,813,000 after acquiring an additional 317,927 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of Plains All American Pipeline by 29.1% during the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock worth $22,962,000 after acquiring an additional 297,937 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAA has been the subject of several research reports. Bank of America began coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Scotiabank reiterated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Raymond James lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Barclays lifted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.21.

Plains All American Pipeline Trading Down 5.5 %

PAA stock opened at $19.80 on Monday. Plains All American Pipeline, L.P. has a 1-year low of $15.02 and a 1-year high of $21.00. The firm has a market cap of $13.93 billion, a P/E ratio of 13.11 and a beta of 1.65. The business’s 50 day moving average is $18.42 and its 200-day moving average is $17.86. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.68%. Plains All American Pipeline’s dividend payout ratio is 135.71%.

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.