Pathstone Holdings LLC Sells 372,931 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Pathstone Holdings LLC decreased its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,768,057 shares of the pipeline company's stock after selling 372,931 shares during the period. Pathstone Holdings LLC owned approximately 0.25% of Plains All American Pipeline worth $30,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth about $27,000. National Bank of Canada FI acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth about $27,000. Jones Financial Companies Lllp lifted its stake in shares of 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 acquiring an additional 3,368 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth about $97,000. Finally, Rothschild Investment LLC lifted its stake in shares of Plains All American Pipeline by 66.7% in the fourth quarter. Rothschild Investment LLC now owns 9,500 shares of the pipeline company's stock worth $162,000 after acquiring an additional 3,800 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PAA. Citigroup cut their price objective on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley reissued an "equal weight" rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. Raymond James reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Scotiabank reduced their target price on Plains All American Pipeline from $21.00 to $20.00 and set a "sector outperform" rating for the company in a report on Monday, May 12th. Finally, StockNews.com downgraded Plains All American Pipeline from a "buy" rating to a "hold" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of "Hold" and an average price target of $20.50.

Plains All American Pipeline Price Performance

NYSE PAA traded down $0.29 during trading hours on Monday, reaching $16.97. 1,111,152 shares of the company's stock were exchanged, compared to its average volume of 3,098,876. The stock has a market cap of $11.94 billion, a PE ratio of 23.23 and a beta of 0.70. Plains All American Pipeline, L.P. has a one year low of $15.58 and a one year high of $21.00. The firm has a fifty day moving average of $18.13 and a 200-day moving average of $18.46. 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 (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts' consensus estimates 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%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. On average, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.96%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 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.