Icon Wealth Advisors LLC Cuts Stock Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Icon Wealth Advisors LLC cut its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,695 shares of the pipeline company’s stock after selling 1,893 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Plains All American Pipeline were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PAA. Citigroup Inc. boosted its holdings in Plains All American Pipeline by 48.9% during the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the period. Acadian Asset Management LLC boosted its holdings in Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after acquiring an additional 1,020,277 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock valued at $7,813,000 after purchasing an additional 317,927 shares during the last quarter. ING Groep NV raised its position in Plains All American Pipeline by 29.1% during the 3rd quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock valued at $22,962,000 after purchasing an additional 297,937 shares during the last quarter. Finally, FMR LLC raised its position in Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after purchasing an additional 286,222 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Up 2.4 %

Shares of NYSE:PAA opened at $18.09 on Friday. Plains All American Pipeline, L.P. has a 52-week low of $14.46 and a 52-week high of $19.17. The firm has a market capitalization of $12.73 billion, a P/E ratio of 11.98 and a beta of 1.61. The stock has a 50 day moving average price of $17.38 and a 200-day moving average price of $17.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.27 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, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 113.39%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Bank of America assumed coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.82.

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.