Plains All American Pipeline (NYSE:PAA) Shares Down 3.8%

Plains All American Pipeline, L.P. (NYSE:PAA) was down 3.8% on Thursday . The stock traded as low as $17.34 and last traded at $17.35. Approximately 655,473 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 2,754,099 shares. The stock had previously closed at $18.03.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PAA shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Morgan Stanley raised their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, UBS Group raised their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.10.

Plains All American Pipeline Stock Performance

The company’s 50 day moving average price is $17.77 and its 200-day moving average price is $17.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. The company has a market cap of $12.01 billion, a PE ratio of 14.96 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. During the same quarter last year, the business posted $0.25 EPS. Plains All American Pipeline’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors 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 dividend on an annualized basis and a yield of 7.41%. Plains All American Pipeline’s dividend payout ratio is 109.48%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Blackstone Inc. grew its position in shares of Plains All American Pipeline by 1.4% during the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after purchasing an additional 318,944 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of Plains All American Pipeline by 0.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in shares of Plains All American Pipeline by 2.0% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock valued at $45,520,000 after purchasing an additional 48,799 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock valued at $34,081,000 after purchasing an additional 1,020,277 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Plains All American Pipeline by 69.4% during the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock valued at $32,044,000 after purchasing an additional 747,852 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.