Exchange Traded Concepts LLC Has $8.79 Million Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Exchange Traded Concepts LLC lowered its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 514,617 shares of the pipeline company’s stock after selling 37,389 shares during the period. Exchange Traded Concepts LLC’s holdings in Plains All American Pipeline were worth $8,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Axiom Advisory LLC increased its holdings in shares of 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 worth $274,000 after acquiring an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after buying an additional 887 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Plains All American Pipeline by 0.4% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock valued at $4,580,000 after buying an additional 1,047 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its holdings in shares of Plains All American Pipeline by 1.3% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 90,350 shares of the pipeline company’s stock valued at $1,543,000 after buying an additional 1,197 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Bank of America started coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. Barclays lifted their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.92.

Plains All American Pipeline Trading Down 0.9 %

Shares of NYSE:PAA opened at $20.39 on Friday. The company has a 50-day simple moving average of $18.08 and a 200 day simple moving average of $17.79. The company has a market capitalization of $14.35 billion, a P/E ratio of 18.21 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline, L.P. has a 52-week low of $15.02 and a 52-week high of $21.00.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s 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 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 113.39%.

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.