Corient Private Wealth LLC Sells 69,031 Shares of Plains All American Pipeline Lp $PAA

Key Points

• Corient Private Wealth trimmed its Plains All American Pipeline stake by 14.8% in the fourth quarter, selling 69,031 shares and leaving it with 398,297 shares worth about $7.15 million.
• Other institutional investors were active in PAA as well, with firms like Americana Partners and Goldman Sachs increasing holdings; overall, 41.78% of the stock is owned by institutions.
• Plains All American Pipeline reported Q1 revenue growth of 8.7% but missed EPS estimates by $0.02, while the company also paid a quarterly dividend of $0.4175 per share, implying a 7.7% annual yield.

Corient Private Wealth LLC decreased its position in shares of Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 398,297 shares of the company's stock after selling 69,031 shares during the quarter. Corient Private Wealth LLC owned about 0.06% of Plains All American Pipeline worth $7,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAA. Citigroup Inc. boosted its stake in Plains All American Pipeline by 17.8% during the 3rd quarter. Citigroup Inc. now owns 535,200 shares of the company's stock valued at $9,131,000 after purchasing an additional 80,788 shares during the last quarter. Americana Partners LLC increased its holdings in Plains All American Pipeline by 110.9% during the 4th quarter. Americana Partners LLC now owns 578,541 shares of the company's stock worth $10,391,000 after purchasing an additional 304,247 shares in the last quarter. Berkley W R Corp purchased a new stake in shares of Plains All American Pipeline in the third quarter worth approximately $32,871,000. Symphony Financial Services Inc. purchased a new stake in shares of Plains All American Pipeline in the third quarter worth approximately $883,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Plains All American Pipeline by 17.8% in the fourth 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 during the last quarter. 41.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PAA. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. Barclays increased their price target on Plains All American Pipeline from $18.00 to $21.00 and gave the company an "underweight" rating in a research report on Friday, April 10th. Wells Fargo & Company raised their price objective on Plains All American Pipeline from $22.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. Stifel Nicolaus lifted their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Finally, Truist Financial started coverage on shares of Plains All American Pipeline in a report on Tuesday, March 24th. They set a "buy" rating and a $23.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and an average price target of $22.93.

Plains All American Pipeline Stock Performance

PAA stock opened at $21.62 on Friday. The firm has a market cap of $15.25 billion, a PE ratio of 16.50, a P/E/G ratio of 9.84 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average of $22.31 and a 200-day moving average of $20.78. Plains All American Pipeline Lp has a 12-month low of $15.69 and a 12-month high of $24.26.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company's revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. As a group, sell-side analysts expect that Plains All American Pipeline Lp will post 1.56 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline's dividend payout ratio is 127.48%.

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.

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