Jackson Hole Capital Partners LLC Lowers Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Jackson Hole Capital Partners LLC lessened its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,521 shares of the pipeline company’s stock after selling 1,000 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Plains All American Pipeline were worth $917,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC increased its stake in Plains All American Pipeline by 48.1% in the third quarter. AE Wealth Management LLC now owns 27,241 shares of the pipeline company’s stock valued at $417,000 after acquiring an additional 8,848 shares during the last quarter. IFP Advisors Inc increased its stake in Plains All American Pipeline by 14.8% in the third 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 last quarter. Exchange Traded Concepts LLC increased its stake in Plains All American Pipeline by 27.9% in the third quarter. Exchange Traded Concepts LLC now owns 539,991 shares of the pipeline company’s stock valued at $8,273,000 after acquiring an additional 117,806 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Plains All American Pipeline in the third quarter valued at $124,000. Finally, Hennessy Advisors Inc. increased its stake in Plains All American Pipeline by 24.4% in the third quarter. Hennessy Advisors Inc. now owns 1,867,736 shares of the pipeline company’s stock valued at $28,614,000 after acquiring an additional 366,900 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PAA shares. Citigroup increased their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. StockNews.com raised Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. UBS Group raised their price objective on 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. Finally, Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.96.

Plains All American Pipeline Stock Down 1.0 %

PAA traded down $0.18 on Thursday, hitting $18.07. The company had a trading volume of 3,148,072 shares, compared to its average volume of 3,442,803. 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 52-week low of $12.07 and a 52-week high of $19.03. The stock has a fifty day simple moving average of $17.23 and a 200-day simple moving average of $16.05. The firm has a market capitalization of $12.67 billion, a P/E ratio of 13.00 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the business posted $0.33 earnings per share. Plains All American Pipeline’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Plains All American Pipeline, L.P. will post 1.27 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.03%. Plains All American Pipeline’s payout ratio is 91.37%.

Plains All American Pipeline 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.