Fayez Sarofim & Co Acquires 25,576 Shares of Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Fayez Sarofim & Co increased its stake in Plains All American Pipeline, L.P. by 1.5%, acquiring an additional 25,576 shares to hold a total of approximately 1.68 million shares valued at $33.7 million.
• Plains All American Pipeline recently reported earnings per share (EPS) of $0.39, which fell short of the consensus estimate of $0.45, while its quarterly revenue rose only by 0.1% year-over-year.
• The company announced a quarterly dividend of $0.38 per share, providing an annualized dividend yield of 8.5%, although its dividend payout ratio stands at a high 163.44%.

Fayez Sarofim & Co boosted its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,684,953 shares of the pipeline company's stock after buying an additional 25,576 shares during the period. Fayez Sarofim & Co owned approximately 0.24% of Plains All American Pipeline worth $33,699,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its holdings in Plains All American Pipeline by 31.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock worth $879,000 after buying an additional 10,412 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Plains All American Pipeline by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock worth $1,127,000 after buying an additional 2,891 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Plains All American Pipeline by 32.1% during the first quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock worth $566,000 after buying an additional 6,874 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Plains All American Pipeline during the first quarter worth $218,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Plains All American Pipeline by 61.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock worth $1,521,000 after buying an additional 28,916 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock traded down $0.12 during trading hours on Monday, hitting $17.75. 1,869,078 shares of the company's stock traded hands, compared to its average volume of 3,593,663. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 24.36 and a beta of 0.73. The company has a fifty day simple moving average of $18.19 and a 200-day simple moving average of $18.47. 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 (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 the consensus estimate 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%. During the same quarter last year, the firm posted $0.31 earnings per share. The company's revenue was down 16.6% on a year-over-year basis. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's payout ratio is presently 172.73%.

Analyst Ratings Changes

A number of research firms have commented on PAA. Wolfe Research reaffirmed a "peer perform" rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Royal Bank Of Canada reissued 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. Citigroup set a $18.00 target price on Plains All American Pipeline and gave the stock a "neutral" rating in a research note on Friday. Scotiabank lowered their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 5th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Plains All American Pipeline in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of "Hold" and an average target price of $20.75.

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.