Plains All American Pipeline Lp $PAA Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC trimmed its holdings in Plains All American Pipeline Lp (NASDAQ:PAAFree Report) by 16.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,670 shares of the company’s stock after selling 24,586 shares during the period. Plains All American Pipeline accounts for approximately 2.0% of GraniteShares Advisors LLC’s holdings, making the stock its 7th largest position. GraniteShares Advisors LLC’s holdings in Plains All American Pipeline were worth $2,829,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Summit Financial LLC raised its holdings in shares of Plains All American Pipeline by 1.0% during the 4th quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock valued at $1,100,000 after purchasing an additional 599 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares during the last quarter. Symphony Financial Services Inc. boosted its holdings in Plains All American Pipeline by 1.4% in the fourth quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock worth $943,000 after purchasing an additional 715 shares in the last quarter. Sippican Capital Advisors boosted its holdings in Plains All American Pipeline by 2.4% in the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the company’s stock worth $589,000 after purchasing an additional 775 shares in the last quarter. Finally, Clear Trail Advisors LLC increased its position in Plains All American Pipeline by 1.5% during the first quarter. Clear Trail Advisors LLC now owns 57,047 shares of the company’s stock worth $1,274,000 after buying an additional 858 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.2%

Shares of Plains All American Pipeline stock opened at $22.12 on Tuesday. Plains All American Pipeline Lp has a 1 year low of $15.69 and a 1 year high of $24.26. The company’s fifty day simple moving average is $22.33 and its 200-day simple moving average is $20.84. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 10.02 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAAGet Free Report) last released its earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company had revenue of $12.47 billion for the quarter. During the same period in the prior year, the firm posted $0.39 EPS. Plains All American Pipeline’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts expect that Plains All American Pipeline Lp will post 1.56 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.5%. Plains All American Pipeline’s dividend payout ratio is currently 127.48%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PAA. Wells Fargo & Company raised their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Truist Financial started coverage on Plains All American Pipeline in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. Citigroup raised their price objective on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Finally, US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Hold” and an average target price of $22.93.

View Our Latest Research Report on PAA

About Plains All American Pipeline

(Free Report)

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

See Also

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Institutional Ownership by Quarter for Plains All American Pipeline (NASDAQ:PAA)

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