Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON lowered its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,794,098 shares of the pipeline company's stock after selling 370,190 shares during the quarter. BROOKFIELD Corp ON owned 0.54% of Plains All American Pipeline worth $64,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Plains All American Pipeline during the 3rd quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Plains All American Pipeline during the fourth quarter worth about $27,000. National Bank of Canada FI purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp increased its stake in shares of Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock worth $61,000 after buying an additional 3,368 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in Plains All American Pipeline in the fourth quarter valued at approximately $97,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

Shares of PAA traded down $0.50 during mid-day trading on Friday, reaching $16.44. 6,131,326 shares of the company's stock were exchanged, compared to its average volume of 3,096,746. The business's fifty day simple moving average is $18.37 and its 200-day simple moving average is $18.42. The stock has a market capitalization of $11.57 billion, a PE ratio of 22.52 and a beta of 0.70. Plains All American Pipeline, L.P. has a 52-week low of $15.58 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. On average, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.25%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 208.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Raymond James reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday. UBS Group restated a "buy" rating on shares of Plains All American Pipeline in a research note on Friday. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday. Morgan Stanley reissued an "equal weight" rating and set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday. Finally, Barclays reaffirmed an "underweight" rating and issued a $18.00 price target on shares of Plains All American Pipeline in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline has a consensus rating of "Hold" and an average price target of $20.89.

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.