B. Riley Wealth Advisors Inc. Sells 63,666 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 38.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,416 shares of the pipeline company’s stock after selling 63,666 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Plains All American Pipeline were worth $1,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Eagle Bay Advisors LLC purchased a new position in shares of Plains All American Pipeline during the first quarter worth approximately $26,000. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the first quarter worth $28,000. ORG Partners LLC boosted its position in 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 in the last quarter. Evermay Wealth Management LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter valued at $35,000. Finally, Scarborough Advisors LLC bought a new position in shares of Plains All American Pipeline in the 4th quarter worth $46,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $17.34 on Thursday. The firm has a market cap of $12.16 billion, a P/E ratio of 14.95 and a beta of 1.60. The stock has a 50 day moving average of $17.63 and a two-hundred day moving average of $17.65. Plains All American Pipeline, L.P. has a 12 month low of $14.25 and a 12 month high of $19.17. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting the consensus estimate 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 analysts’ expectations of $12.32 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, analysts expect that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, UBS Group boosted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.10.

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.