Albert D Mason Inc. lowered its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,078 shares of the pipeline company’s stock after selling 10,704 shares during the period. Albert D Mason Inc.’s holdings in Plains All American Pipeline were worth $456,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. American Assets Investment Management LLC bought a new stake in Plains All American Pipeline in the fourth quarter valued at $103,000. BB&T Investment Services Inc. purchased a new position in Plains All American Pipeline during the second quarter worth about $108,000. IHT Wealth Management LLC purchased a new position in Plains All American Pipeline during the second quarter worth about $118,000. Advisory Services Network LLC boosted its holdings in Plains All American Pipeline by 5.1% during the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after purchasing an additional 223 shares during the last quarter. Finally, Welch Group LLC purchased a new position in Plains All American Pipeline during the fourth quarter worth about $134,000. Hedge funds and other institutional investors own 42.93% of the company’s stock.
Several analysts have recently issued reports on PAA shares. Stifel Nicolaus reissued a “hold” rating and issued a $24.00 price target (up previously from $22.00) on shares of Plains All American Pipeline in a research report on Thursday, February 8th. Seaport Global Securities raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and upped their target price for the stock from $23.00 to $25.00 in a report on Thursday, February 8th. Robert W. Baird set a $22.00 price target on shares of Plains All American Pipeline and gave the stock a “hold” rating in a report on Wednesday, February 7th. Credit Suisse Group assumed coverage on shares of Plains All American Pipeline in a report on Thursday, January 4th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, SunTrust Banks reissued a “hold” rating and issued a $24.00 price target on shares of Plains All American Pipeline in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.61.
Plains All American Pipeline, L.P. (PAA) opened at $21.40 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20. Plains All American Pipeline, L.P. has a 1-year low of $18.38 and a 1-year high of $33.01. The stock has a market cap of $16,004.92, a P/E ratio of 22.06 and a beta of 0.87.
Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, February 6th. The pipeline company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The firm had revenue of $7.61 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Plains All American Pipeline had a net margin of 3.26% and a return on equity of 9.93%. Plains All American Pipeline’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. analysts expect that Plains All American Pipeline, L.P. will post 1.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend was Tuesday, January 30th. Plains All American Pipeline’s payout ratio is currently 123.71%.
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About Plains All American Pipeline
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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