Silvercrest Asset Management Group LLC Sells 2,794 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Silvercrest Asset Management Group LLC reduced its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,604 shares of the pipeline company’s stock after selling 2,794 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Plains All American Pipeline were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 4.6% during the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock worth $475,301,000 after acquiring an additional 1,224,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after acquiring an additional 1,211,286 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock valued at $227,539,000 after acquiring an additional 75,509 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after acquiring an additional 630,141 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Plains All American Pipeline by 30.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after acquiring an additional 1,162,933 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Trading Down 0.4%

PAA stock opened at $17.00 on Wednesday. The company has a market capitalization of $11.96 billion, a PE ratio of 23.29 and a beta of 0.70. Plains All American Pipeline, L.P. has a 12 month low of $15.58 and a 12 month high of $21.00. The firm’s 50-day moving average is $18.03 and its 200 day moving average is $18.45. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $0.41 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.94%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline’s payout ratio is 163.44%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday. Mizuho reduced their target price on shares of Plains All American Pipeline from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. Raymond James reissued a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Morgan Stanley reaffirmed 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Moderate Buy” and an average target price of $20.45.

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.