First National Trust Co Acquires 1,038 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

First National Trust Co raised its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,277 shares of the pipeline company’s stock after acquiring an additional 1,038 shares during the quarter. First National Trust Co’s holdings in Plains All American Pipeline were worth $171,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PAA. CENTRAL TRUST Co increased its position in Plains All American Pipeline by 212.5% in the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $39,000. Briaud Financial Planning Inc purchased a new stake in shares of Plains All American Pipeline during the third quarter worth about $58,000. Provence Wealth Management Group purchased a new stake in shares of Plains All American Pipeline during the third quarter worth about $62,000. Finally, Allworth Financial LP grew its position in shares of Plains All American Pipeline by 451.1% during the third quarter. Allworth Financial LP now owns 6,244 shares of the pipeline company’s stock worth $96,000 after purchasing an additional 5,111 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA stock traded up $0.11 on Monday, hitting $17.60. The company had a trading volume of 462,869 shares, compared to its average volume of 3,419,271. The firm has a market cap of $12.34 billion, a P/E ratio of 12.23 and a beta of 1.58. The company has a 50-day moving average price of $17.37 and a 200-day moving average price of $16.15. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a twelve month low of $12.50 and a twelve month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the company earned $0.41 earnings per share. Plains All American Pipeline’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.32 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.22%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Wall Street Analyst Weigh In

PAA has been the subject of several research analyst reports. Citigroup raised their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Truist Financial raised their price objective on 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. Stifel Nicolaus raised their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group raised their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of “Moderate Buy” and an average target price of $18.96.

About Plains All American Pipeline

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.