Waverly Advisors LLC Cuts Stock Position in Plains All American Pipeline Lp $PAA

Waverly Advisors LLC lessened its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 622,795 shares of the company’s stock after selling 53,229 shares during the quarter. Waverly Advisors LLC’s holdings in Plains All American Pipeline were worth $13,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bollard Group LLC grew its holdings in Plains All American Pipeline by 7.7% in the first quarter. Bollard Group LLC now owns 1,215,856 shares of the company’s stock worth $27,150,000 after purchasing an additional 86,602 shares during the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $237,000. Mizuho Markets Americas LLC acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth $16,819,000. Lido Advisors LLC grew its stake in Plains All American Pipeline by 85.1% during the 1st quarter. Lido Advisors LLC now owns 30,026 shares of the company’s stock worth $671,000 after buying an additional 13,804 shares during the last quarter. Finally, State of Wyoming purchased a new position in Plains All American Pipeline during the 1st quarter worth $241,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $24.60 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The stock has a 50-day moving average of $22.87 and a two-hundred day moving average of $21.59. The stock has a market cap of $17.36 billion, a P/E ratio of 18.78, a P/E/G ratio of 9.71 and a beta of 0.50. Plains All American Pipeline Lp has a one year low of $15.69 and a one year high of $24.87.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data 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 net margin of 2.53% and a return on equity of 12.17%. The firm had revenue of $12.47 billion during the quarter. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts predict that Plains All American Pipeline Lp will post 1.55 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is 127.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PAA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Wednesday, July 15th. Mizuho boosted their price target on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Tuesday, July 21st. Finally, Citigroup boosted their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $23.23.

Plains All American Pipeline Company 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.