Westwood Holdings Group Inc. Trims Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

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%.

Westwood Holdings Group Inc. lowered its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 6.8% during the first 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 quarter. 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the period. National Bank of Canada FI acquired a new stake in Plains All American Pipeline in the 4th quarter valued at $27,000. North Capital Inc. acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $61,000. Creative Financial Designs Inc. ADV acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $68,000. Finally, Cheviot Value Management LLC acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $71,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Analysts Set New Price Targets

PAA has been the topic of a number of research reports. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. set a $20.00 price objective on Plains All American Pipeline in a report on Friday. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the company a "buy" rating in a report on Tuesday, July 15th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 16th. Finally, Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $20.75.

Plains All American Pipeline Trading Down 0.1%

Shares of NYSE PAA traded down $0.01 during trading on Friday, hitting $17.86. 4,852,367 shares of the company were exchanged, compared to its average volume of 3,605,680. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00. 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 has a fifty day moving average price of $18.19 and a 200-day moving average price of $18.49. The firm has a market capitalization of $12.56 billion, a PE ratio of 24.47 and a beta of 0.73.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business's revenue was down 16.6% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. As a group, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

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