Energy Income Partners LLC Sells 142,374 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• Energy Income Partners LLC decreased its stake in Plains All American Pipeline, L.P. by 11.0%, now owning 1,151,986 shares valued at approximately $23 million after selling 142,374 shares.
• The company reported earnings of $0.36 per share, exceeding the consensus estimate of $0.33, yet its revenue declined by 16.6% year-over-year.
• Plains All American Pipeline announced a quarterly dividend of $0.38, resulting in an annualized yield of 8.4%, despite a high dividend payout ratio of 172.73%.

Energy Income Partners LLC cut its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,151,986 shares of the pipeline company's stock after selling 142,374 shares during the period. Energy Income Partners LLC owned about 0.16% of Plains All American Pipeline worth $23,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Plains All American Pipeline by 107.0% during 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 period. North Capital Inc. bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $61,000. National Bank of Canada FI increased its position in shares of Plains All American Pipeline by 99.4% during the first quarter. National Bank of Canada FI now owns 3,210 shares of the pipeline company's stock valued at $64,000 after purchasing an additional 1,600 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $68,000. Finally, Tortoise Investment Management LLC bought a new stake in shares of Plains All American Pipeline during the first quarter valued at approximately $70,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Down 1.5%

Shares of NYSE:PAA traded down $0.27 during mid-day trading on Wednesday, reaching $17.42. 2,376,307 shares of the stock were exchanged, compared to its average volume of 3,538,385. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.25 billion, a P/E ratio of 23.86 and a beta of 0.80. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00. The stock's 50 day simple moving average is $18.16 and its 200-day simple moving average is $18.20.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping 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 business's quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. As a group, equities research analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.7%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 172.73%.

Wall Street Analysts Forecast Growth

PAA has been the topic of a number of research reports. Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a research report on Friday, August 8th. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. set a $20.00 target price on Plains All American Pipeline in a research report on Friday, August 8th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.42.

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.