Cerity Partners LLC Has $2.45 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Cerity Partners LLC raised its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,455 shares of the pipeline company’s stock after buying an additional 10,738 shares during the period. Cerity Partners LLC’s holdings in Plains All American Pipeline were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PAA. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Plains All American Pipeline during the first quarter worth approximately $130,000. Cetera Advisor Networks LLC increased its holdings in shares of Plains All American Pipeline by 45.5% during the first quarter. Cetera Advisor Networks LLC now owns 16,943 shares of the pipeline company’s stock worth $182,000 after buying an additional 5,296 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Plains All American Pipeline during the first quarter worth approximately $181,000. Clearbridge Investments LLC increased its holdings in shares of Plains All American Pipeline by 2.7% during the first quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company’s stock worth $78,732,000 after buying an additional 194,589 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Plains All American Pipeline by 38.9% during the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after buying an additional 4,880,244 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PAA shares. UBS Group raised their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 12th. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Citigroup raised their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Truist Financial raised their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Stifel Nicolaus raised their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of $18.96.

Plains All American Pipeline Price Performance

PAA opened at $17.69 on Friday. The company has a fifty day moving average price of $16.99 and a two-hundred day moving average price of $15.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. Plains All American Pipeline, L.P. has a 52 week low of $12.07 and a 52 week high of $19.03. The firm has a market capitalization of $12.40 billion, a PE ratio of 12.73 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that Plains All American Pipeline, L.P. will post 1.26 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 91.37%.

Plains All American Pipeline 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.