CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 34,669 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 15.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 184,105 shares of the pipeline company's stock after selling 34,669 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Plains All American Pipeline were worth $3,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PAA. Farther Finance Advisors LLC increased its holdings in Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock worth $26,000 after buying an additional 657 shares during the last quarter. National Bank of Canada FI acquired a new position in Plains All American Pipeline in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp increased its holdings in Plains All American Pipeline by 1,684.0% in 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 last quarter. Creative Financial Designs Inc. ADV acquired a new position in Plains All American Pipeline in the first quarter worth approximately $68,000. Finally, CoreFirst Bank & Trust acquired a new position in Plains All American Pipeline in the fourth quarter worth approximately $97,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Wall Street Analysts Forecast Growth

PAA has been the subject of a number of recent analyst reports. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 16th. Morgan Stanley reaffirmed 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, Citigroup decreased their target price on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Plains All American Pipeline currently has an average rating of "Hold" and a consensus price target of $20.50.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock remained flat at $18.26 during midday trading on Friday. 1,649,451 shares of the stock traded hands, compared to its average volume of 3,242,330. The company's fifty day moving average price is $17.38 and its 200 day moving average price is $18.41. The company has a market cap of $12.84 billion, a PE ratio of 25.01 and a beta of 0.66. 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, L.P. has a twelve month low of $15.58 and a twelve month high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 earnings per share (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%. Plains All American Pipeline's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.32%. Plains All American Pipeline's payout ratio is 163.44%.

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.