UMB Bank n.a. Cuts Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

UMB Bank n.a. lowered its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 32.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,363 shares of the pipeline company’s stock after selling 11,451 shares during the quarter. UMB Bank n.a.’s holdings in Plains All American Pipeline were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PAA. Acadian Asset Management LLC grew its stake in shares of Plains All American Pipeline by 114.9% during the second quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after purchasing an additional 1,020,277 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Plains All American Pipeline by 69.4% during the first 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 in the last quarter. Blackstone Inc. grew its stake in shares of Plains All American Pipeline by 1.4% during the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock worth $413,345,000 after purchasing an additional 318,944 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Plains All American Pipeline during the first quarter worth $4,420,000. Finally, FORVIS Wealth Advisors LLC acquired a new position in shares of Plains All American Pipeline during the first quarter worth $3,227,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analysts Set New Price Targets

PAA has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of 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. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Plains All American Pipeline Price Performance

Shares of PAA opened at $17.69 on Friday. Plains All American Pipeline, L.P. has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 15.25 and a beta of 1.60. The firm has a 50-day simple moving average of $17.56 and a 200-day simple moving average of $17.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting 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 business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.18%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Plains All American Pipeline Company 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.