Stratos Wealth Partners LTD. cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,992 shares of the pipeline company’s stock after selling 695 shares during the period. Stratos Wealth Partners LTD.’s holdings in Plains All American Pipeline, L.P. were worth $473,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PAA. Morgan Stanley increased its stake in Plains All American Pipeline, L.P. by 37.2% in the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock worth $444,373,000 after buying an additional 3,808,889 shares in the last quarter. Bank of Montreal Can boosted its position in Plains All American Pipeline, L.P. by 50.4% in the second quarter. Bank of Montreal Can now owns 7,853,634 shares of the pipeline company’s stock worth $206,315,000 after buying an additional 2,631,118 shares during the last quarter. Bank of America Corp DE boosted its position in Plains All American Pipeline, L.P. by 24.1% in the first quarter. Bank of America Corp DE now owns 8,648,721 shares of the pipeline company’s stock worth $273,386,000 after buying an additional 1,680,480 shares during the last quarter. ING Groep NV boosted its position in Plains All American Pipeline, L.P. by 127.6% in the first quarter. ING Groep NV now owns 2,089,500 shares of the pipeline company’s stock worth $66,049,000 after buying an additional 1,171,500 shares during the last quarter. Finally, UBS Group AG boosted its position in Plains All American Pipeline, L.P. by 12.5% in the first quarter. UBS Group AG now owns 9,370,040 shares of the pipeline company’s stock worth $296,187,000 after buying an additional 1,038,051 shares during the last quarter. 43.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Plains All American Pipeline, L.P. (NYSE:PAA) traded down 2.84% during midday trading on Thursday, hitting $19.14. The company had a trading volume of 7,598,186 shares. Plains All American Pipeline, L.P. has a 12-month low of $19.09 and a 12-month high of $33.95. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 14.77 and a beta of 0.95. The company’s 50-day moving average price is $24.91 and its 200 day moving average price is $28.22.
Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the business posted ($0.12) earnings per share. Equities research analysts predict that Plains All American Pipeline, L.P. will post $1.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 11.49%. The ex-dividend date of this dividend was Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 165.41%.
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A number of research firms recently commented on PAA. UBS AG upgraded Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, May 22nd. Raymond James Financial, Inc. set a $24.00 price target on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a report on Wednesday, August 9th. BidaskClub cut Plains All American Pipeline, L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Stifel Nicolaus reduced their price target on Plains All American Pipeline, L.P. from $30.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday, August 8th. Finally, Howard Weil cut Plains All American Pipeline, L.P. from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $30.19.
Plains All American Pipeline, L.P. Company Profile
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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