Plains All American Pipeline, L.P. $PAA Holdings Decreased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 16.6% during the second quarter, Holdings Channel.com reports. The firm owned 27,550 shares of the pipeline company’s stock after selling 5,498 shares during the period. Atria Wealth Solutions Inc.’s holdings in Plains All American Pipeline were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Apollon Wealth Management LLC raised its stake in shares of Plains All American Pipeline by 0.8% during the second quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock valued at $1,475,000 after purchasing an additional 628 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 657 shares in the last quarter. HB Wealth Management LLC raised its position in Plains All American Pipeline by 5.2% in the second quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company’s stock worth $279,000 after acquiring an additional 748 shares in the last quarter. Blue Trust Inc. raised its position in Plains All American Pipeline by 76.1% in the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 761 shares in the last quarter. Finally, Prossimo Advisors LLC raised its position in Plains All American Pipeline by 6.6% in the first quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company’s stock worth $247,000 after acquiring an additional 764 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Price Performance

NYSE PAA opened at $15.92 on Monday. The stock’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $17.50. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $11.20 billion, a PE ratio of 21.81 and a beta of 0.72. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.5%. The ex-dividend date is Friday, October 31st. Plains All American Pipeline’s payout ratio is presently 172.73%.

Wall Street Analyst Weigh In

PAA has been the topic of several research reports. Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a research report on Monday, August 11th. Citigroup set a $18.00 price target on shares of Plains All American Pipeline and gave the stock a “neutral” rating in a research report on Friday, August 8th. Barclays dropped their price target on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 7th. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus target price of $20.73.

Plains All American Pipeline Company 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.