Duff & Phelps Investment Management Co. Sells 200,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Duff & Phelps Investment Management Co. reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,589,900 shares of the pipeline company’s stock after selling 200,000 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Plains All American Pipeline were worth $39,237,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. AE Wealth Management LLC raised its position in Plains All American Pipeline by 48.1% during the third quarter. AE Wealth Management LLC now owns 27,241 shares of the pipeline company’s stock valued at $417,000 after purchasing an additional 8,848 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Plains All American Pipeline by 14.8% during the 3rd quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock worth $80,000 after buying an additional 674 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Plains All American Pipeline by 5.4% in the third quarter. Commonwealth Equity Services LLC now owns 124,664 shares of the pipeline company’s stock valued at $1,910,000 after buying an additional 6,395 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Plains All American Pipeline by 36.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,408 shares of the pipeline company’s stock valued at $328,000 after acquiring an additional 5,761 shares during the last quarter. Finally, F&V Capital Management LLC grew its position in Plains All American Pipeline by 40.0% in the third quarter. F&V Capital Management LLC now owns 19,600 shares of the pipeline company’s stock valued at $300,000 after acquiring an additional 5,600 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 2.3 %

Shares of NYSE:PAA traded down $0.41 during trading on Tuesday, reaching $17.30. 1,390,666 shares of the stock were exchanged, compared to its average volume of 3,401,183. Plains All American Pipeline, L.P. has a 1-year low of $12.07 and a 1-year high of $19.03. The stock has a fifty day moving average of $17.30 and a two-hundred day moving average of $16.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 12.50 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. Research analysts anticipate that Plains All American Pipeline, L.P. will post 1.34 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.34%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 91.37%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial raised their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. UBS Group raised their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Scotiabank initiated coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target for the company. The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, StockNews.com raised Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.96.

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.