ProShare Advisors LLC Has $634,000 Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

ProShare Advisors LLC cut its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 9.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 35,505 shares of the pipeline company’s stock after selling 3,900 shares during the quarter. ProShare Advisors LLC’s holdings in Plains All American Pipeline were worth $634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at $28,000. ORG Partners LLC increased its stake in shares of 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 buying an additional 730 shares in the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at $35,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $46,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $17.49 on Monday. The stock has a 50-day moving average price of $17.71 and a 200 day moving average price of $17.64. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. 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 12 month low of $14.25 and a 12 month 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 analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. 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 company’s revenue was up 11.5% compared to the same quarter last year. Research analysts expect that Plains All American Pipeline, L.P. will post 1.3 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 109.48%.

Analyst Ratings Changes

PAA has been the subject of a number of research reports. UBS Group raised 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Finally, Morgan Stanley lifted their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Plains All American Pipeline Profile

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.