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Westwood Holdings Group Inc. Has $33.96 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Plains All American Pipeline logo with Energy background

Key Points

  • Westwood Holdings Group Inc. has reduced its stake in Plains All American Pipeline by 6.8%, now holding approximately 1.7 million shares valued at $33.96 million.
  • Analysts have diverse opinions on PAA stock, with ratings ranging from "sell" to "strong buy," while the consensus target price is currently set at $20.75.
  • Plains All American Pipeline announced a quarterly dividend of $0.38 per share, contributing to an annualized yield of 8.6%, although its payout ratio stands at 163.44%.
  • Looking to Export and Analyze Plains All American Pipeline Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Westwood Holdings Group Inc. decreased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 6.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,697,791 shares of the pipeline company's stock after selling 124,117 shares during the period. Westwood Holdings Group Inc. owned 0.24% of Plains All American Pipeline worth $33,956,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PAA. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 4.6% in the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company's stock valued at $475,301,000 after acquiring an additional 1,224,381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Plains All American Pipeline by 8.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company's stock worth $261,283,000 after purchasing an additional 1,211,286 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains All American Pipeline by 0.6% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock valued at $227,539,000 after purchasing an additional 75,509 shares during the period. Eagle Global Advisors LLC grew its position in shares of Plains All American Pipeline by 8.3% during the 4th quarter. Eagle Global Advisors LLC now owns 4,666,185 shares of the pipeline company's stock worth $79,698,000 after purchasing an additional 358,350 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Plains All American Pipeline by 110.4% during the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company's stock worth $72,186,000 after purchasing an additional 2,218,014 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

Shares of PAA traded up $0.01 during mid-day trading on Thursday, reaching $17.87. The company had a trading volume of 3,459,780 shares, compared to its average volume of 3,597,307. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 24.48 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company's 50 day simple moving average is $18.16 and its 200 day simple moving average is $18.52. Plains All American Pipeline, L.P. has a 1-year low of $15.57 and a 1-year high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates 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%. Plains All American Pipeline's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. Analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is presently 163.44%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAA. Barclays reiterated an "underweight" rating and issued a $18.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. UBS Group set a $25.00 target price on Plains All American Pipeline and gave the company a "buy" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $20.75.

View Our Latest Stock Analysis on PAA

About Plains All American Pipeline

(Free Report)

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.

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Institutional Ownership by Quarter for Plains All American Pipeline (NYSE:PAA)

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