Dividend Assets Capital LLC Lowers Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Dividend Assets Capital LLC cut its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 4.5% during the first quarter, HoldingsChannel.com reports. The fund owned 130,382 shares of the pipeline company’s stock after selling 6,184 shares during the period. Dividend Assets Capital LLC’s holdings in Plains All American Pipeline were worth $2,608,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PAA. ING Groep NV grew its stake in shares of Plains All American Pipeline by 194.5% in the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after acquiring an additional 2,570,700 shares in the last quarter. Barclays PLC boosted its position in shares of Plains All American Pipeline by 110.4% during the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after purchasing an additional 2,218,014 shares in the last quarter. Invesco Ltd. grew its holdings in Plains All American Pipeline by 4.6% in the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock valued at $475,301,000 after purchasing an additional 1,224,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Plains All American Pipeline by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock worth $261,283,000 after buying an additional 1,211,286 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Plains All American Pipeline by 30.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock worth $92,470,000 after acquiring an additional 1,162,933 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PAA. Morgan Stanley restated an “equal weight” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, May 9th. Wall Street Zen upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Mizuho dropped their price objective on Plains All American Pipeline from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 20th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 9th. Finally, Barclays reissued an “underweight” rating and set a $18.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.36.

Plains All American Pipeline Stock Down 0.2%

PAA opened at $17.40 on Tuesday. The stock’s fifty day simple moving average is $17.12 and its 200 day simple moving average is $18.42. The stock has a market cap of $12.24 billion, a PE ratio of 23.84 and a beta of 0.66. Plains All American Pipeline, L.P. has a 1-year low of $15.58 and a 1-year high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same period in the prior year, the business posted $0.41 earnings per share. Plains All American Pipeline’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.74%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 163.44%.

Plains All American Pipeline Company 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.