CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 231,053 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 51.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,774 shares of the pipeline company's stock after selling 231,053 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Plains All American Pipeline were worth $3,737,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Plains All American Pipeline in the third quarter valued at about $27,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. increased its holdings 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 worth $68,000 after purchasing an additional 1,318 shares during the period. Northwestern Mutual Wealth Management Co. raised its position 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 buying an additional 856 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Plains All American Pipeline by 100.0% in the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company's stock valued at $139,000 after buying an additional 4,000 shares during the period. Institutional investors own 41.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PAA shares. Scotiabank restated a "sector outperform" rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, January 10th. Barclays boosted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, January 16th. Royal Bank of Canada reiterated a "sector perform" rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. 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 stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.92.

Plains All American Pipeline Trading Down 0.9 %

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

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

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date is Friday, January 31st. Plains All American Pipeline's payout ratio is currently 113.39%.

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.