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

Atria Investments Inc decreased its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 8.3% in the 3rd quarter, Holdings Channel reports. The firm owned 14,594 shares of the pipeline company’s stock after selling 1,326 shares during the quarter. Atria Investments Inc’s holdings in Plains All American Pipeline were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PAA. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter worth approximately $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 purchasing an additional 730 shares during the period. Sunbelt Securities Inc. grew its stake in Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,318 shares during the last quarter. American National Bank increased its position in Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after buying an additional 3,110 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after buying an additional 1,060 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAA has been the subject of several recent research reports. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.82.

Plains All American Pipeline Trading Up 0.7 %

Shares of NYSE:PAA opened at $17.94 on Friday. The company has a 50 day moving average of $17.37 and a 200-day moving average of $17.54. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a market cap of $12.62 billion, a P/E ratio of 16.02 and a beta of 1.61. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 earnings per share. As a group, analysts anticipate that Plains All American Pipeline, L.P. will post 1.27 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.08%. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

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.