Cypress Asset Management Inc. TX Has $230,000 Position in Plains All American Pipeline, L.P. (PAA)

Cypress Asset Management Inc. TX reduced its stake in Plains All American Pipeline, L.P. (NYSE:PAA) by 89.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,748 shares of the pipeline company’s stock after selling 76,093 shares during the period. Cypress Asset Management Inc. TX’s holdings in Plains All American Pipeline, L.P. were worth $230,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Greylin Investment Mangement Inc. increased its position in Plains All American Pipeline, L.P. by 2.7% in the first quarter. Greylin Investment Mangement Inc. now owns 18,850 shares of the pipeline company’s stock valued at $596,000 after buying an additional 500 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in Plains All American Pipeline, L.P. by 1.2% in the first quarter. Duff & Phelps Investment Management Co. now owns 2,034,610 shares of the pipeline company’s stock valued at $64,314,000 after buying an additional 25,000 shares during the last quarter. Capital Investment Advisors LLC increased its position in Plains All American Pipeline, L.P. by 0.6% in the first quarter. Capital Investment Advisors LLC now owns 43,082 shares of the pipeline company’s stock valued at $1,362,000 after buying an additional 272 shares during the last quarter. Regent Investment Management LLC acquired a new position in Plains All American Pipeline, L.P. during the first quarter valued at $468,000. Finally, Americafirst Capital Management LLC purchased a new position in shares of Plains All American Pipeline, L.P. during the first quarter valued at approximately $199,000. Hedge funds and other institutional investors own 43.94% of the company’s stock.

Shares of Plains All American Pipeline, L.P. (PAA) traded up 1.52% during trading on Monday, hitting $20.71. 1,807,046 shares of the stock traded hands. The stock has a 50 day moving average of $25.48 and a 200 day moving average of $28.57. Plains All American Pipeline, L.P. has a 52-week low of $20.00 and a 52-week high of $33.95. The firm has a market cap of $15.01 billion, a price-to-earnings ratio of 15.98 and a beta of 0.95. Plains All American Pipeline, L.P. also was the recipient of some unusual options trading on Friday. Stock investors bought 21,284 put options on the company. This represents an increase of approximately 1,365% compared to the typical daily volume of 1,453 put options.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its earnings results on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The firm had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the company earned ($0.12) EPS. Plains All American Pipeline, L.P.’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts expect that Plains All American Pipeline, L.P. will post $1.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 10.78%. The ex-dividend date is Thursday, July 27th. Plains All American Pipeline, L.P.’s payout ratio is presently 165.41%.

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Several equities analysts recently commented on PAA shares. Scotiabank reaffirmed a “buy” rating and set a $36.00 price objective on shares of Plains All American Pipeline, L.P. in a research note on Thursday, April 27th. Deutsche Bank AG cut their price target on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, May 30th. UBS AG restated a “buy” rating and issued a $33.00 price objective (down from $34.00) on shares of Plains All American Pipeline, L.P. in a report on Wednesday, May 10th. Mizuho upgraded shares of Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. set a $24.00 price objective on shares of Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.19.

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.