Crescent Grove Advisors LLC Sells 13,800 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Crescent Grove Advisors LLC reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,144 shares of the pipeline company's stock after selling 13,800 shares during the quarter. Crescent Grove Advisors LLC's holdings in Plains All American Pipeline were worth $2,735,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PAA. Wilmington Savings Fund Society FSB acquired a new position in Plains All American Pipeline during the 3rd quarter worth about $27,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline during the 3rd quarter valued at $28,000. Sunbelt Securities Inc. lifted its position in shares of Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company's stock valued at $68,000 after purchasing an additional 1,318 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company's stock valued at $109,000 after acquiring an additional 856 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in Plains All American Pipeline by 100.0% in the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company's stock valued at $139,000 after purchasing an additional 4,000 shares during the period. 41.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PAA. Bank of America started coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price on the stock. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and set a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $19.92.

Plains All American Pipeline Stock Down 0.9 %

PAA stock traded down $0.18 during midday trading on Friday, hitting $20.39. 2,626,278 shares of the company's stock were exchanged, compared to its average volume of 3,521,319. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $18.15 and a 200-day moving average price of $17.80. Plains All American Pipeline, L.P. has a 12-month low of $15.02 and a 12-month high of $21.00. The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of 18.21 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the company posted $0.35 EPS. The firm's quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate that Plains All American Pipeline, L.P. will post 1.17 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline's dividend payout ratio (DPR) is 113.39%.

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.