Crescent Grove Advisors LLC Sells 68,151 Shares of Plains All American Pipeline Lp $PAA

Crescent Grove Advisors LLC lowered its stake in shares of Plains All American Pipeline Lp (NASDAQ:PAA) by 62.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 41,453 shares of the company’s stock after selling 68,151 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Plains All American Pipeline were worth $926,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in Plains All American Pipeline in the 1st quarter valued at $27,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after purchasing an additional 655 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth $42,000. Fulcrum Asset Management LLP bought a new position in shares of Plains All American Pipeline in the third quarter worth $50,000. Finally, Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 3,149 shares during the period. Institutional investors own 41.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PAA shares. Mizuho upped their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Morgan Stanley raised 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. Zacks Research cut shares of Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Truist Financial upped their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company increased their price target on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and an average price target of $23.08.

Plains All American Pipeline Stock Performance

NASDAQ PAA opened at $23.87 on Monday. The firm’s fifty day moving average price is $22.64 and its two-hundred day moving average price is $21.36. The stock has a market cap of $16.84 billion, a PE ratio of 18.22, a PEG ratio of 11.01 and a beta of 0.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. Plains All American Pipeline Lp has a fifty-two week low of $15.69 and a fifty-two week high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $12.47 billion during the quarter. During the same period last year, the firm earned $0.39 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Plains All American Pipeline Lp will post 1.55 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Plains All American Pipeline Profile

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.