Chung Wu Investment Group LLC Reduces Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Chung Wu Investment Group LLC cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 17.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,279 shares of the pipeline company’s stock after selling 8,110 shares during the quarter. Plains All American Pipeline accounts for 0.9% of Chung Wu Investment Group LLC’s portfolio, making the stock its 27th largest position. Chung Wu Investment Group LLC’s holdings in Plains All American Pipeline were worth $786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in shares of Plains All American Pipeline by 4.7% during the 4th quarter. Larson Financial Group LLC now owns 13,083 shares of the pipeline company’s stock valued at $223,000 after acquiring an additional 583 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Plains All American Pipeline by 107.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after buying an additional 657 shares during the last quarter. Capital Advisory Group Advisory Services LLC raised its stake in Plains All American Pipeline by 2.5% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company’s stock worth $569,000 after acquiring an additional 685 shares during the period. World Investment Advisors lifted its holdings in Plains All American Pipeline by 4.2% in the fourth quarter. World Investment Advisors now owns 21,100 shares of the pipeline company’s stock worth $360,000 after acquiring an additional 850 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Plains All American Pipeline by 0.8% during the 4th quarter. US Bancorp DE now owns 126,392 shares of the pipeline company’s stock worth $2,159,000 after purchasing an additional 1,003 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAA. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 5th. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the company an “outperform” rating in a research note on Wednesday, June 18th. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA opened at $17.95 on Thursday. Plains All American Pipeline, L.P. has a 1 year low of $15.58 and a 1 year high of $21.00. The firm has a market cap of $12.62 billion, a P/E ratio of 24.59 and a beta of 0.66. The stock has a fifty day moving average price of $17.36 and a two-hundred day moving average price of $18.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same period last year, the business earned $0.41 EPS. Plains All American Pipeline’s revenue was up .1% compared to the same quarter last year. Research analysts forecast that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.47%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio is presently 163.44%.

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.