B. Riley Wealth Advisors Inc. Sells 79,996 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

B. Riley Wealth Advisors Inc. trimmed its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 78.1% in the third quarter, Holdings Channel.com reports. The fund owned 22,420 shares of the pipeline company’s stock after selling 79,996 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Plains All American Pipeline were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Citigroup Inc. increased its position 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 purchasing an additional 1,125,386 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Plains All American Pipeline by 114.9% in 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 purchasing an additional 1,020,277 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Plains All American Pipeline during the third quarter worth $11,634,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Plains All American Pipeline by 241.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock worth $7,813,000 after buying an additional 317,927 shares during the last quarter. Finally, ING Groep NV raised its stake in Plains All American Pipeline by 29.1% during the third quarter. ING Groep NV now owns 1,321,937 shares of the pipeline company’s stock worth $22,962,000 after buying an additional 297,937 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Down 0.2 %

NYSE:PAA opened at $16.94 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a one year low of $15.02 and a one year high of $19.17. The company has a market cap of $11.92 billion, a PE ratio of 15.13 and a beta of 1.64. The firm has a 50-day moving average of $17.44 and a 200-day moving average of $17.62.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping 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 firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the company posted $0.35 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that Plains All American Pipeline, L.P. will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline’s payout ratio is currently 113.39%.

Analysts Set New Price Targets

A number of analysts have commented on PAA shares. 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 cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Wednesday. Finally, Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.82.

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.