Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its position in Plains All American Pipeline by 7.2%, selling 174,700 shares, and now owns approximately 2.25 million shares valued at nearly $45 million.
• The company announced a quarterly dividend of $0.38 per share, providing a yield of 8.6%, with a high dividend payout ratio of 172.73%.
• Analysts have mixed opinions on Plains All American Pipeline, with target prices ranging from $18.00 to $20.00 and a consensus rating of "Hold".

Deutsche Bank AG lowered its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,252,207 shares of the pipeline company's stock after selling 174,700 shares during the period. Deutsche Bank AG owned 0.32% of Plains All American Pipeline worth $45,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted 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 worth $26,000 after buying an additional 657 shares in the last quarter. Capital Advisory Group Advisory Services LLC raised its position in Plains All American Pipeline by 2.5% during the first quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock valued at $569,000 after purchasing an additional 685 shares during the period. Prossimo Advisors LLC raised its position in Plains All American Pipeline by 6.6% during the first quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company's stock valued at $247,000 after purchasing an additional 764 shares during the period. Financial Sense Advisors Inc. raised its position in Plains All American Pipeline by 4.8% during the first quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock valued at $336,000 after purchasing an additional 766 shares during the period. Finally, Clarus Group Inc. raised its position in Plains All American Pipeline by 0.9% during the first quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock valued at $1,847,000 after purchasing an additional 803 shares during the period. Hedge funds and other institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Trading Down 1.0%

PAA traded down $0.18 during trading hours on Friday, reaching $17.52. The company's stock had a trading volume of 2,176,600 shares, compared to its average volume of 3,595,448. The stock has a market cap of $12.32 billion, a PE ratio of 24.00 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline, L.P. has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The business's 50-day moving average is $18.25 and its 200-day moving average is $18.39.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The company's quarterly revenue was down 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given 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 yield of 8.7%. Plains All American Pipeline's payout ratio is 172.73%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the stock a "neutral" rating in a research note on Friday, August 8th. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. UBS Group set a $25.00 target price on Plains All American Pipeline and gave the company a "buy" rating in a research report on Tuesday, July 15th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Finally, Mizuho set a $22.00 target price on Plains All American Pipeline and gave the company an "outperform" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.67.

About Plains All American Pipeline

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.