Gilman Hill Asset Management LLC Has $1.42 Million Stake in Plains All American Pipeline, L.P. (NYSE:PAA)

Gilman Hill Asset Management LLC cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 2.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 83,215 shares of the pipeline company’s stock after selling 2,250 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Plains All American Pipeline were worth $1,421,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Axiom Advisory LLC boosted its holdings in shares of Plains All American Pipeline by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after buying an additional 750 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 856 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in shares of Plains All American Pipeline by 0.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC raised its holdings in shares of Plains All American Pipeline by 1.3% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 90,350 shares of the pipeline company’s stock worth $1,543,000 after purchasing an additional 1,197 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of PAA opened at $20.06 on Monday. The firm has a fifty day simple moving average of $17.81 and a two-hundred day simple moving average of $17.73. The firm has a market cap of $14.12 billion, a PE ratio of 12.50 and a beta of 1.64. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline, L.P. has a 1-year low of $15.02 and a 1-year high of $20.35.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. Plains All American Pipeline’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.56 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.58%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is currently 113.39%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PAA. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.92.

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.