Doliver Advisors LP Lowers Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Doliver Advisors LP lessened its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,828 shares of the pipeline company’s stock after selling 900 shares during the period. Doliver Advisors LP’s holdings in Plains All American Pipeline were worth $466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in Plains All American Pipeline during the fourth quarter worth about $6,112,000. Icon Wealth Advisors LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth approximately $1,706,000. Tortoise Index Solutions LLC boosted its position in Plains All American Pipeline by 13.3% in the 4th quarter. Tortoise Index Solutions LLC now owns 602,376 shares of the pipeline company’s stock valued at $9,126,000 after buying an additional 70,623 shares during the period. Fort Sheridan Advisors LLC boosted its position in Plains All American Pipeline by 10.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 102,571 shares of the pipeline company’s stock valued at $1,554,000 after buying an additional 9,549 shares during the period. Finally, DRW Securities LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth $1,661,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $17.34 on Thursday. The company’s 50 day simple moving average is $17.63 and its 200-day simple moving average is $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 firm has a market cap of $12.16 billion, a PE ratio of 14.95 and a beta of 1.60. 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 posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Analyst Ratings Changes

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