Duff & Phelps Investment Management Co. Cuts Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Duff & Phelps Investment Management Co. cut its holdings in Plains All American Pipeline, L.P. (NYSE:PAA) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,549,900 shares of the pipeline company’s stock after selling 40,000 shares during the period. Duff & Phelps Investment Management Co. owned about 0.36% of Plains All American Pipeline worth $45,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline in the 1st quarter worth about $28,000. ORG Partners LLC grew its position in Plains All American Pipeline by 78.5% during 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 during the period. Evermay Wealth Management LLC purchased a new stake in Plains All American Pipeline during the first quarter worth about $35,000. Finally, Scarborough Advisors LLC bought a new stake in Plains All American Pipeline in the fourth quarter worth about $46,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Trading Up 1.1 %

Shares of PAA stock opened at $17.49 on Friday. Plains All American Pipeline, L.P. has a 1 year low of $14.25 and a 1 year high of $19.17. The company’s fifty day simple moving average is $17.71 and its two-hundred day simple moving average is $17.64. 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 has a market capitalization of $12.26 billion, a price-to-earnings ratio of 15.08 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion for the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, analysts anticipate 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. Stockholders of record on Wednesday, July 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.26%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 109.48%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PAA shares. Morgan Stanley increased their target price 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. UBS Group upped their price objective 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. Finally, Royal Bank of Canada reissued 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 equities research 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, the stock has an average rating of “Moderate Buy” and an average target price of $20.10.

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.