Corient Private Wealth LLC Sells 69,031 Shares of Plains All American Pipeline Lp $PAA

Corient Private Wealth LLC trimmed its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 398,297 shares of the company’s stock after selling 69,031 shares during the quarter. Corient Private Wealth LLC’s holdings in Plains All American Pipeline were worth $7,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAA. Newbridge Financial Services Group Inc. grew its holdings in Plains All American Pipeline by 40.7% during the fourth 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 period. Aventura Private Wealth LLC bought a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $42,000. Fulcrum Asset Management LLP bought a new position in shares of Plains All American Pipeline during the 3rd quarter worth $50,000. Farther Finance Advisors LLC increased its holdings in Plains All American Pipeline by 342.7% in the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after acquiring an additional 3,149 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Plains All American Pipeline by 93.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock worth $78,000 after acquiring an additional 2,041 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Price Performance

PAA stock opened at $21.62 on Friday. The stock has a market cap of $15.25 billion, a PE ratio of 16.50, a P/E/G ratio of 9.84 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. Plains All American Pipeline Lp has a one year low of $15.69 and a one year high of $24.26. The firm has a 50 day simple moving average of $22.31 and a two-hundred day simple moving average of $20.78.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The firm had revenue of $12.47 billion during the quarter. During the same period in the prior year, the company posted $0.39 earnings per share. Plains All American Pipeline’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Plains All American Pipeline Lp will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.4175 dividend. 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 7.7%. Plains All American Pipeline’s dividend payout ratio is 127.48%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Wells Fargo & Company lifted their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and boosted their target price for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Finally, Mizuho raised their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.93.

Plains All American Pipeline Company Profile

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.