Plains All American Pipeline, L.P. (NYSE:PAA) Stake Trimmed by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP reduced its position in Plains All American Pipeline, L.P. (NYSE:PAA) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,538,106 shares of the pipeline company’s stock after selling 1,003,436 shares during the period. Plains All American Pipeline comprises approximately 3.3% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 13th largest position. Kayne Anderson Capital Advisors LP owned approximately 1.08% of Plains All American Pipeline worth $130,937,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. ORG Partners LLC grew its holdings in shares of 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 in the last quarter. Axiom Advisory LLC boosted its holdings in shares of Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 856 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock worth $1,908,000 after acquiring an additional 927 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.2 %

PAA stock opened at $17.18 on Monday. Plains All American Pipeline, L.P. has a twelve month low of $14.46 and a twelve month high of $19.17. The company has a market cap of $12.04 billion, a PE ratio of 15.34 and a beta of 1.61. The business’s 50-day simple moving average is $17.34 and its 200 day simple moving average is $17.53. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the previous year, the company earned $0.35 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Plains All American Pipeline, L.P. will post 1.29 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, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.3175 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.39%. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PAA shares. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.82.

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.