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

Infrastructure Capital Advisors LLC decreased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,767,012 shares of the pipeline company’s stock after selling 196,565 shares during the period. Plains All American Pipeline makes up 8.8% of Infrastructure Capital Advisors LLC’s holdings, making the stock its biggest position. Infrastructure Capital Advisors LLC owned 0.54% of Plains All American Pipeline worth $65,433,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PAA. Future Financial Wealth Managment LLC bought a new position in shares of Plains All American Pipeline in the third quarter worth $28,000. ORG Partners LLC increased its position 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 worth $30,000 after purchasing an additional 730 shares during the period. Sunbelt Securities Inc. increased its position in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the period. American National Bank increased its position in shares of Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 3,110 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,060 shares during the period. Institutional investors own 41.78% of the company’s stock.

Wall Street Analyst Weigh In

PAA has been the topic of a number of recent analyst reports. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America assumed coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $18.09 on Friday. The business’s 50-day moving average price is $17.38 and its 200-day moving average price is $17.54. Plains All American Pipeline, L.P. has a 12 month low of $14.46 and a 12 month high of $19.17. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 11.98 and a beta of 1.61. 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, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that Plains All American Pipeline, L.P. will post 1.27 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s payout ratio is 113.39%.

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.