FORVIS Wealth Advisors LLC Takes Position in Plains All American Pipeline, L.P. (NYSE:PAA)

FORVIS Wealth Advisors LLC acquired a new stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 183,767 shares of the pipeline company’s stock, valued at approximately $3,227,000.

Several other institutional investors have also recently made changes to their positions in the stock. Financial Sense Advisors Inc. raised its holdings in shares of Plains All American Pipeline by 29.9% during the first quarter. Financial Sense Advisors Inc. now owns 13,884 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 3,195 shares during the period. Norden Group LLC acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth about $338,000. Aviance Capital Partners LLC raised its holdings in shares of Plains All American Pipeline by 3.1% in the 1st quarter. Aviance Capital Partners LLC now owns 149,671 shares of the pipeline company’s stock worth $2,628,000 after acquiring an additional 4,526 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Plains All American Pipeline by 5.0% in the 1st quarter. Hennessy Advisors Inc. now owns 416,426 shares of the pipeline company’s stock worth $7,312,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded down $0.14 during mid-day trading on Friday, reaching $18.76. The company’s stock had a trading volume of 88,519 shares, compared to its average volume of 3,004,616. Plains All American Pipeline, L.P. has a 12-month low of $13.88 and a 12-month high of $19.03. The company has a market capitalization of $13.15 billion, a P/E ratio of 16.29 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The firm’s fifty day moving average price is $17.33 and its two-hundred day moving average price is $16.73.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business earned $0.41 EPS. Plains All American Pipeline’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Plains All American Pipeline, L.P. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price on the stock. TD Securities upped their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Wells Fargo & Company upped their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Truist Financial upped their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, StockNews.com downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.38.

About Plains All American Pipeline

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.