Brown Advisory Inc. Sells 20,900 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Brown Advisory Inc. decreased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 38.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,337 shares of the pipeline company's stock after selling 20,900 shares during the period. Brown Advisory Inc.'s holdings in Plains All American Pipeline were worth $667,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Plains All American Pipeline by 1,684.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 3,368 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Plains All American Pipeline during the fourth quarter valued at approximately $11,247,000. Avantax Advisory Services Inc. lifted its holdings in shares of Plains All American Pipeline by 41.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 14,436 shares of the pipeline company's stock worth $247,000 after buying an additional 4,241 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Plains All American Pipeline by 6.3% during the fourth quarter. Corient Private Wealth LLC now owns 427,682 shares of the pipeline company's stock worth $7,305,000 after acquiring an additional 25,263 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC boosted its position in shares of Plains All American Pipeline by 51.0% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 109,540 shares of the pipeline company's stock worth $1,871,000 after acquiring an additional 37,019 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAA. Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Barclays reiterated an "underweight" rating and issued a $18.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Mizuho set a $22.00 price objective on Plains All American Pipeline and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Finally, Scotiabank lowered their target price on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $20.75.

Plains All American Pipeline Trading Up 0.4%

Shares of NYSE PAA traded up $0.08 during trading hours on Thursday, hitting $18.75. 1,335,554 shares of the company traded hands, compared to its average volume of 3,241,224. The company's 50 day moving average price is $17.69 and its 200 day moving average price is $18.52. Plains All American Pipeline, L.P. has a 12 month low of $15.58 and a 12 month high of $21.00. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 25.68 and a beta of 0.68. 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 announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the previous year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.11%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's payout ratio is currently 163.44%.

Plains All American Pipeline Company 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.