Sippican Capital Advisors decreased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 7.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,020 shares of the pipeline company’s stock after selling 1,525 shares during the period. Sippican Capital Advisors’ holdings in Plains All American Pipeline, L.P. were worth $473,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of PAA. Trust Asset Management LLC raised its stake in Plains All American Pipeline, L.P. by 60.3% in the second quarter. Trust Asset Management LLC now owns 363,817 shares of the pipeline company’s stock worth $9,557,000 after buying an additional 136,894 shares during the last quarter. Regent Investment Management LLC raised its stake in Plains All American Pipeline, L.P. by 3.4% in the second quarter. Regent Investment Management LLC now owns 15,300 shares of the pipeline company’s stock worth $402,000 after buying an additional 500 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Plains All American Pipeline, L.P. by 92.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 18,940 shares of the pipeline company’s stock worth $523,000 after buying an additional 9,074 shares during the last quarter. Sanders Morris Harris LLC raised its stake in Plains All American Pipeline, L.P. by 1.6% in the second quarter. Sanders Morris Harris LLC now owns 23,925 shares of the pipeline company’s stock worth $629,000 after buying an additional 380 shares during the last quarter. Finally, Creative Planning raised its stake in Plains All American Pipeline, L.P. by 8.9% in the second quarter. Creative Planning now owns 3,551,149 shares of the pipeline company’s stock worth $93,288,000 after buying an additional 289,434 shares during the last quarter. 43.76% of the stock is owned by institutional investors.
Shares of Plains All American Pipeline, L.P. (NYSE:PAA) opened at 25.62 on Friday. The firm has a market capitalization of $18.57 billion, a P/E ratio of 23.81 and a beta of 0.95. The company’s 50 day moving average price is $25.75 and its 200 day moving average price is $28.97. Plains All American Pipeline, L.P. has a one year low of $23.21 and a one year high of $33.95.
Plains All American Pipeline, L.P. (NYSE:PAA) last issued its earnings results on Monday, May 8th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.09. Plains All American Pipeline, L.P. had a return on equity of 9.52% and a net margin of 4.26%. The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 62.2% on a year-over-year basis. On average, analysts expect that Plains All American Pipeline, L.P. will post $1.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.59%. Plains All American Pipeline, L.P.’s payout ratio is presently 239.13%.
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Several research analysts have recently weighed in on PAA shares. Guggenheim started coverage on shares of Plains All American Pipeline, L.P. in a research report on Monday, April 17th. They set a “neutral” rating and a $28.00 price target on the stock. Jefferies Group LLC cut shares of Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and decreased their target price for the company from $28.00 to $27.00 in a research report on Friday, April 21st. Macquarie reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Wolfe Research reiterated a “market perform” rating on shares of Plains All American Pipeline, L.P. in a research note on Friday, April 21st. Finally, Scotiabank reiterated a “buy” rating and set a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Thursday, April 27th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Plains All American Pipeline, L.P. has an average rating of “Buy” and an average price target of $32.83.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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