Plains All American Pipeline, L.P. $PAA Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its holdings in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 69.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,045,407 shares of the pipeline company's stock after selling 2,402,038 shares during the quarter. Citigroup Inc. owned approximately 0.15% of Plains All American Pipeline worth $20,908,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Plains All American Pipeline by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock worth $422,894,000 after purchasing an additional 1,524,185 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Plains All American Pipeline by 8.6% in 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 purchasing an additional 1,211,286 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Plains All American Pipeline by 0.6% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company's stock worth $227,539,000 after buying an additional 75,509 shares during the period. Eagle Global Advisors LLC lifted its stake in shares of Plains All American Pipeline by 8.3% during the fourth quarter. Eagle Global Advisors LLC now owns 4,666,185 shares of the pipeline company's stock worth $79,698,000 after buying an additional 358,350 shares during the period. Finally, Barclays PLC lifted its stake in shares of Plains All American Pipeline by 110.4% during the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company's stock worth $72,186,000 after buying an additional 2,218,014 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

NYSE:PAA traded up $0.11 during mid-day trading on Monday, hitting $17.63. The company's stock had a trading volume of 1,095,624 shares, compared to its average volume of 3,579,026. Plains All American Pipeline, L.P. has a 1 year low of $15.57 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 24.16 and a beta of 0.73. The business's fifty day moving average is $18.25 and its two-hundred day moving average is $18.37.

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 (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $0.31 EPS. The business's quarterly revenue was down 16.6% on a year-over-year basis. Analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is 172.73%.

Analyst Ratings Changes

Several research firms have recently commented on PAA. Zacks Research upgraded shares of Plains All American Pipeline to a "hold" rating in a research note on Monday, August 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.67.

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.