Mather Group LLC. cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA – Free Report) by 29.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,999 shares of the pipeline company’s stock after selling 1,677 shares during the quarter. Mather Group LLC.’s holdings in Plains All American Pipeline were worth $69,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new position in shares of Plains All American Pipeline in the 1st quarter worth about $26,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline in the first quarter worth about $28,000. ORG Partners LLC boosted its stake in Plains All American Pipeline by 78.5% in the second 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 during the period. Evermay Wealth Management LLC bought a new position in shares of Plains All American Pipeline during the first quarter valued at approximately $35,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Plains All American Pipeline in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 41.78% of the company’s stock.
Plains All American Pipeline Stock Up 0.5 %
PAA stock opened at $17.69 on Monday. The firm’s 50-day moving average is $17.56 and its two-hundred day moving average is $17.67. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 15.25 and a beta of 1.60. Plains All American Pipeline, L.P. has a 52 week low of $14.46 and a 52 week high of $19.17.
Plains All American Pipeline Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors 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 yield of 7.18%. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.
Analyst Upgrades and Downgrades
PAA has been the subject of a number of recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. UBS Group increased their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline presently has an average rating of “Moderate Buy” and an average target price of $20.10.
Read Our Latest Research Report on PAA
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.
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