Raymond James & Associates Reduces Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Raymond James & Associates cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 293,643 shares of the pipeline company’s stock after selling 19,767 shares during the quarter. Raymond James & Associates’ holdings in Plains All American Pipeline were worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new position in Plains All American Pipeline in the 1st quarter worth $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline in the first quarter worth about $28,000. ORG Partners LLC boosted its holdings in Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares during the last quarter. Evermay Wealth Management LLC acquired a new stake in Plains All American Pipeline during the 1st quarter valued at approximately $35,000. Finally, Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline during the 4th quarter worth approximately $46,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Down 2.1 %

Shares of NYSE PAA opened at $17.29 on Thursday. Plains All American Pipeline, L.P. has a 12-month low of $14.25 and a 12-month high of $19.17. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 14.91 and a beta of 1.61. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $17.99 and its 200 day simple moving average is $17.44.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. Equities research analysts expect that Plains All American Pipeline, L.P. will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.35%. Plains All American Pipeline’s payout ratio is currently 109.48%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PAA shares. Citigroup raised their price target on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. TD Securities boosted their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, May 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Tuesday, August 13th. Morgan Stanley boosted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.64.

About Plains All American Pipeline

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.