Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 18.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,171 shares of the pipeline company’s stock after selling 16,173 shares during the period. Atria Wealth Solutions Inc.’s holdings in Plains All American Pipeline were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PAA. DRW Securities LLC purchased a new stake in Plains All American Pipeline during the fourth quarter worth $1,661,000. Principal Securities Inc. purchased a new position in shares of Plains All American Pipeline in the 4th quarter valued at about $138,000. BNP Paribas Financial Markets raised its holdings in Plains All American Pipeline by 69.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after purchasing an additional 747,852 shares during the period. Sei Investments Co. purchased a new position in Plains All American Pipeline during the first quarter worth approximately $2,608,000. Finally, ING Groep NV raised its stake in shares of Plains All American Pipeline by 1.9% during the 4th quarter. ING Groep NV now owns 3,100,600 shares of the pipeline company’s stock worth $47,005,000 after buying an additional 57,000 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Up 1.0 %

PAA stock opened at $17.85 on Friday. Plains All American Pipeline, L.P. has a fifty-two week low of $14.25 and a fifty-two week high of $19.17. The company’s 50 day moving average price is $17.94 and its 200 day moving average price is $17.37. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 15.39 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS 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 firm had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $12.32 billion. During the same period last year, the firm posted $0.25 EPS. The company’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of research analyst reports. 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 research report on Tuesday, August 13th. TD Securities upped their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 6th. Citigroup raised their price target on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. UBS Group boosted their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, StockNews.com downgraded Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.64.

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.