Duff & Phelps Investment Management Co. Sells 40,000 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Duff & Phelps Investment Management Co. reduced its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 2,549,900 shares of the pipeline company’s stock after selling 40,000 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Plains All American Pipeline were worth $45,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Blackstone Inc. grew its holdings in shares of Plains All American Pipeline by 1.4% during the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock worth $413,345,000 after purchasing an additional 318,944 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Plains All American Pipeline by 0.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock worth $336,734,000 after buying an additional 57,289 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Plains All American Pipeline by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock worth $45,520,000 after buying an additional 48,799 shares during the last quarter. Acadian Asset Management LLC raised 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 buying an additional 1,020,277 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings 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 worth $32,044,000 after acquiring an additional 747,852 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA opened at $17.49 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $17.64. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 15.08 and a beta of 1.60. Plains All American Pipeline, L.P. has a 1 year low of $14.25 and a 1 year high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its 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 firm had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $12.32 billion. During the same quarter last year, the business earned $0.25 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. As a group, analysts predict that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date was Wednesday, July 31st. Plains All American Pipeline’s payout ratio is 109.48%.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of research analyst reports. UBS Group increased their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Morgan Stanley increased their price objective on 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, Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.10.

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.