Cerity Partners LLC Cuts Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Cerity Partners LLC lowered its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 31.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,155 shares of the pipeline company's stock after selling 51,917 shares during the quarter. Cerity Partners LLC's holdings in Plains All American Pipeline were worth $2,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Plains All American Pipeline by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock worth $879,000 after buying an additional 10,412 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Plains All American Pipeline by 5.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock worth $1,127,000 after buying an additional 2,891 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Plains All American Pipeline by 32.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock worth $566,000 after purchasing an additional 6,874 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Plains All American Pipeline during the first quarter worth approximately $218,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Plains All American Pipeline by 61.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock worth $1,521,000 after purchasing an additional 28,916 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAA has been the subject of several research analyst reports. Barclays restated an "underweight" rating and set a $18.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.00 price target on shares of Plains All American Pipeline in a report on Friday, May 16th. Mizuho set a $22.00 target price on Plains All American Pipeline and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Morgan Stanley reiterated an "equal weight" rating and set a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.75.

Plains All American Pipeline Trading Up 0.9%

Shares of PAA traded up $0.16 on Friday, reaching $18.91. 3,623,866 shares of the company's stock were exchanged, compared to its average volume of 3,260,637. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $13.30 billion, a P/E ratio of 25.90 and a beta of 0.68. The business has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $18.56. Plains All American Pipeline, L.P. has a 12 month low of $15.58 and a 12 month high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing the consensus estimate 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%. During the same quarter last year, the firm posted $0.41 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. Research analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.04%. Plains All American Pipeline's payout ratio is presently 163.44%.

About Plains All American Pipeline

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.