Fractal Investments LLC Sells 199,874 Shares of Plains All American Pipeline Lp $PAA

Key Points

• Fractal Investments LLC sold 199,874 shares, trimming its stake in Plains All American Pipeline by 5.2% to 3,625,784 shares (about $65.12M), which represents roughly 9.1% of Fractal's portfolio and ~0.51% of PAA.
• Plains missed quarterly expectations, reporting $0.17 EPS versus a $0.50 consensus and a 12.2% year-over-year revenue decline, with a net margin of 3.21%.
• The company declared a quarterly dividend of $0.4175 (annualized $1.67), implying a 7.9% dividend yield

Fractal Investments LLC reduced its holdings in Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,625,784 shares of the company's stock after selling 199,874 shares during the period. Plains All American Pipeline makes up about 9.1% of Fractal Investments LLC's investment portfolio, making the stock its 3rd biggest position. Fractal Investments LLC owned approximately 0.51% of Plains All American Pipeline worth $65,119,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PAA. NewEdge Advisors LLC bought a new stake in Plains All American Pipeline in the first quarter valued at approximately $260,000. Guggenheim Capital LLC increased its stake in Plains All American Pipeline by 5.9% in the second quarter. Guggenheim Capital LLC now owns 46,288 shares of the company's stock valued at $848,000 after purchasing an additional 2,592 shares in the last quarter. First Trust Advisors LP increased its stake in Plains All American Pipeline by 4.1% in the second quarter. First Trust Advisors LP now owns 404,921 shares of the company's stock valued at $7,418,000 after purchasing an additional 16,096 shares in the last quarter. Glenview Trust co bought a new stake in Plains All American Pipeline in the second quarter valued at approximately $404,000. Finally, HUB Investment Partners LLC increased its stake in Plains All American Pipeline by 5.6% in the second quarter. HUB Investment Partners LLC now owns 91,113 shares of the company's stock valued at $1,669,000 after purchasing an additional 4,839 shares in the last quarter. Institutional investors own 41.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 18th. Barclays upped their target price on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the company an "underweight" rating in a research note on Friday, April 10th. Zacks Research downgraded shares of Plains All American Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 30th. Stifel Nicolaus upped their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Finally, Royal Bank Of Canada upped their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of "Hold" and a consensus price target of $22.08.

Plains All American Pipeline Stock Down 2.3%

Plains All American Pipeline stock opened at $21.02 on Friday. The firm has a market capitalization of $14.83 billion, a PE ratio of 12.66, a PEG ratio of 2.54 and a beta of 0.53. Plains All American Pipeline Lp has a twelve month low of $15.69 and a twelve month high of $22.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.92. The firm has a 50 day moving average of $21.33.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. The firm's quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Friday, May 1st. Plains All American Pipeline's dividend payout ratio is 100.60%.

About Plains All American Pipeline

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

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