Fayez Sarofim & Co Grows Stock Holdings in 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 increased its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 1.5% during the 1st quarter, according to the company in 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 quarter. Fayez Sarofim & Co owned about 0.24% of Plains All American Pipeline worth $33,699,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in 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 period. National Bank of Canada FI purchased a new stake in Plains All American Pipeline in the 4th quarter valued at about $27,000. North Capital Inc. purchased a new stake in Plains All American Pipeline in the 1st quarter valued at about $61,000. Creative Financial Designs Inc. ADV acquired a new position in Plains All American Pipeline in the first quarter valued at about $68,000. Finally, Cheviot Value Management LLC purchased a new position in Plains All American Pipeline during the first quarter worth about $71,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Down 0.1%

Shares of Plains All American Pipeline stock traded down $0.01 during trading hours on Friday, reaching $17.86. 4,852,367 shares of the company were exchanged, compared to its average volume of 3,605,680. The firm has a market cap of $12.56 billion, a PE ratio of 24.47 and a beta of 0.73. The stock's fifty day moving average is $18.19 and its 200 day moving average is $18.50. 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 quick ratio of 0.92 and a current ratio of 1.01.

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

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.5%. Plains All American Pipeline's dividend payout ratio (DPR) is 163.44%.

Analyst Ratings Changes

PAA has been the topic of a number of research analyst reports. Barclays reissued an "underweight" rating on shares of Plains All American Pipeline in a research note on Friday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 16th. Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. JPMorgan Chase & Co. set a $20.00 price target on Plains All American Pipeline in a research report on Friday. Finally, Wells Fargo & Company downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of "Hold" and a consensus price target 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.