Fortitude Family Office LLC Sells 545 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Fortitude Family Office LLC cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,190 shares of the pipeline company’s stock after selling 545 shares during the period. Fortitude Family Office LLC’s holdings in Plains All American Pipeline were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fortem Financial Group LLC increased its position in shares of Plains All American Pipeline by 4.4% during the fourth quarter. Fortem Financial Group LLC now owns 66,278 shares of the pipeline company’s stock valued at $1,132,000 after purchasing an additional 2,772 shares during the period. CWA Asset Management Group LLC increased its position in shares of Plains All American Pipeline by 0.8% during the fourth quarter. CWA Asset Management Group LLC now owns 266,756 shares of the pipeline company’s stock valued at $4,556,000 after purchasing an additional 2,109 shares during the period. JPMorgan Chase & Co. increased its position in shares of Plains All American Pipeline by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares during the period. Syntax Research Inc. bought a new stake in shares of Plains All American Pipeline during the third quarter valued at approximately $1,742,000. Finally, Tidal Investments LLC increased its position in shares of Plains All American Pipeline by 6.0% during the third quarter. Tidal Investments LLC now owns 24,815 shares of the pipeline company’s stock valued at $431,000 after purchasing an additional 1,400 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $18.88 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $13.29 billion, a P/E ratio of 16.86 and a beta of 1.64. The business’s fifty day moving average is $17.58 and its two-hundred day moving average is $17.68. Plains All American Pipeline, L.P. has a 52 week low of $15.02 and a 52 week high of $19.31.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.24 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.05%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is 135.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PAA. Bank of America initiated coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research report on Friday. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $20.00.

Plains All American Pipeline Profile

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.