GraniteShares Advisors LLC Sells 24,586 Shares of Plains All American Pipeline Lp $PAA

GraniteShares Advisors LLC trimmed its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 16.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,670 shares of the company’s stock after selling 24,586 shares during the period. Plains All American Pipeline comprises about 2.0% of GraniteShares Advisors LLC’s holdings, making the stock its 7th biggest holding. GraniteShares Advisors LLC’s holdings in Plains All American Pipeline were worth $2,829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Citigroup Inc. raised its holdings in shares of Plains All American Pipeline by 17.8% during the third quarter. Citigroup Inc. now owns 535,200 shares of the company’s stock valued at $9,131,000 after acquiring an additional 80,788 shares during the period. Americana Partners LLC lifted its position in shares of Plains All American Pipeline by 110.9% in the 4th quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock valued at $10,391,000 after acquiring an additional 304,247 shares in the last quarter. Berkley W R Corp acquired a new position in Plains All American Pipeline in the 3rd quarter worth approximately $32,871,000. Symphony Financial Services Inc. acquired a new position in Plains All American Pipeline in the 3rd quarter worth approximately $883,000. Finally, Goldman Sachs Group Inc. grew its position in Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 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 issued reports on PAA shares. Citigroup boosted their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. 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 report on Monday, June 8th. Scotiabank lifted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Truist Financial started coverage on Plains All American Pipeline in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Morgan Stanley increased their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.93.

Plains All American Pipeline Trading Up 1.2%

Shares of NASDAQ:PAA opened at $22.12 on Tuesday. The firm has a fifty day moving average of $22.33 and a two-hundred day moving average of $20.84. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.26. The firm has a market capitalization of $15.61 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 10.02 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $12.47 billion during the quarter. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Plains All American Pipeline Lp will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Plains All American Pipeline 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.