Crescent Grove Advisors LLC Lowers Position in Plains All American Pipeline Lp $PAA

Crescent Grove Advisors LLC cut its stake in Plains All American Pipeline Lp (NASDAQ:PAA) by 21.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,604 shares of the company’s stock after selling 29,056 shares during the period. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $1,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PAA. Newbridge Financial Services Group Inc. lifted its holdings in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after buying an additional 655 shares during the period. Aventura Private Wealth LLC purchased a new stake in Plains All American Pipeline in the fourth quarter worth about $42,000. Fulcrum Asset Management LLP purchased a new stake in Plains All American Pipeline in the third quarter worth about $50,000. Fifth Third Bancorp lifted its holdings in Plains All American Pipeline by 257.3% in the third quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after buying an additional 3,065 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Plains All American Pipeline by 342.7% in the fourth quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock worth $73,000 after buying an additional 3,149 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PAA shares. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and set a $24.00 price objective for the company in a report on Wednesday. Truist Financial started coverage on shares of Plains All American Pipeline in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. Citigroup raised their price objective on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Morgan Stanley lifted their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.64.

Plains All American Pipeline Stock Performance

PAA stock opened at $22.91 on Thursday. The firm’s 50 day simple moving average is $22.31. Plains All American Pipeline Lp has a 52-week low of $15.69 and a 52-week high of $24.26. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 10.51 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion for the quarter. During the same period last year, the firm earned $0.39 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Plains All American Pipeline Lp will post 1.56 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s payout ratio is presently 127.48%.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.