Duff & Phelps Investment Management Co. Sells 200,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Duff & Phelps Investment Management Co. decreased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,589,900 shares of the pipeline company's stock after selling 200,000 shares during the period. Duff & Phelps Investment Management Co. owned 0.37% of Plains All American Pipeline worth $39,237,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PAA. CENTRAL TRUST Co lifted its holdings in Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company's stock worth $38,000 after acquiring an additional 1,700 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Plains All American Pipeline in the 4th quarter valued at $39,000. Briaud Financial Planning Inc acquired a new stake in Plains All American Pipeline in the 3rd quarter worth about $58,000. Provence Wealth Management Group acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at approximately $62,000. Finally, IFP Advisors Inc lifted its position in shares of Plains All American Pipeline by 14.8% during the 3rd quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company's stock valued at $80,000 after acquiring an additional 674 shares during the period. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock traded down $0.80 during trading hours on Tuesday, reaching $17.23. The company had a trading volume of 3,367,635 shares, compared to its average volume of 3,425,910. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline, L.P. has a one year low of $12.07 and a one year high of $19.03. The firm has a market cap of $12.08 billion, a PE ratio of 12.50 and a beta of 1.59. The business has a fifty day simple moving average of $17.30 and a 200 day simple moving average of $16.10.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Plains All American Pipeline, L.P. will post 1.34 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline's dividend payout ratio is 91.37%.

Analyst Ratings Changes

Several analysts recently weighed in on PAA shares. StockNews.com raised Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 24th. Truist Financial raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, March 19th. UBS Group boosted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, April 12th. Scotiabank assumed coverage on Plains All American Pipeline in a report on Monday, April 8th. They issued a "sector outperform" rating and a $23.00 target price on the stock. Finally, Citigroup boosted their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a "neutral" rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.96.

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.