Advisors Asset Management Inc. Has $5.54 Million Stock Position in Plains All American Pipeline, L.P. $PAA

Key Points

• Advisors Asset Management Inc. increased its holdings in Plains All American Pipeline, L.P. by 27.3% during the 1st quarter, owning 277,184 shares valued at approximately $5.54 million.
• Plains All American Pipeline reported an EPS of $0.36 for the last quarter, beating expectations, though its revenue decreased 16.6% compared to the previous year.
• The company declared a quarterly dividend of $0.38, reflecting an annualized payout of $1.52 with an 8.7% dividend yield.

Advisors Asset Management Inc. boosted its position in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,184 shares of the pipeline company's stock after buying an additional 59,441 shares during the quarter. Advisors Asset Management Inc.'s holdings in Plains All American Pipeline were worth $5,544,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PAA. Farther Finance Advisors LLC grew its position in shares of Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 657 shares during the last quarter. North Capital Inc. bought a new stake in Plains All American Pipeline during the 1st quarter valued at approximately $61,000. National Bank of Canada FI grew its holdings in Plains All American Pipeline by 99.4% in the 1st quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after buying an additional 1,600 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Plains All American Pipeline in the 1st quarter valued at approximately $68,000. Finally, Tortoise Investment Management LLC bought a new position in Plains All American Pipeline in the 1st quarter worth approximately $70,000. Institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA traded down $0.22 during midday trading on Friday, reaching $17.22. 5,219,123 shares of the company's stock were exchanged, compared to its average volume of 3,537,396. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company's 50 day simple moving average is $18.11 and its two-hundred day simple moving average is $18.14. Plains All American Pipeline, L.P. has a 12 month low of $15.57 and a 12 month high of $21.00. The firm has a market capitalization of $12.11 billion, a PE ratio of 23.59 and a beta of 0.80.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period in the previous year, the company earned $0.31 EPS. The business's revenue was down 16.6% on a year-over-year basis. Equities research analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.8%. Plains All American Pipeline's dividend payout ratio is presently 172.73%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAA. Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Finally, Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a "neutral" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and a consensus target price of $20.42.

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.