Invesco Ltd. Has $591.99 Million Stock Holdings in Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Invesco Ltd. raised its position in Plains All American Pipeline by 6.4%, owning approximately 4.21% of the company with a position valued at around $591.99 million after acquiring additional shares.
• Plains All American Pipeline reported quarterly earnings of $0.36 per share, surpassing expectations and showing an improvement from $0.31 EPS in the same quarter last year, despite a 16.6% decline in revenue.
• The company announced a quarterly dividend of $0.38 per share, with an annual yield of 8.5% and a payout ratio currently at 163.44%.

Invesco Ltd. increased its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,599,382 shares of the pipeline company's stock after purchasing an additional 1,771,452 shares during the quarter. Invesco Ltd. owned approximately 4.21% of Plains All American Pipeline worth $591,988,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 657 shares during the last quarter. Capital Advisory Group Advisory Services LLC lifted its stake in Plains All American Pipeline by 2.5% in 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 acquiring an additional 685 shares during the last quarter. Prossimo Advisors LLC lifted its stake in Plains All American Pipeline by 6.6% in the first quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company's stock valued at $247,000 after acquiring an additional 764 shares during the last quarter. Financial Sense Advisors Inc. lifted its stake in shares of Plains All American Pipeline by 4.8% in the first quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock worth $336,000 after buying an additional 766 shares during the last quarter. Finally, Clarus Group Inc. lifted its stake in shares of Plains All American Pipeline by 0.9% in the first quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock worth $1,847,000 after buying an additional 803 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

Plains All American Pipeline stock traded down $0.12 on Thursday, hitting $17.67. The company's stock had a trading volume of 1,604,993 shares, compared to its average volume of 3,590,956. The firm has a market cap of $12.42 billion, a P/E ratio of 24.18 and a beta of 0.73. 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 fifty day moving average price of $18.24 and a 200-day moving average price of $18.44. Plains All American Pipeline, L.P. has a one year low of $15.57 and a one year high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly 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 net margin of 1.54% and a return on equity of 11.69%. Plains All American Pipeline's revenue was down 16.6% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. On average, equities analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline's payout ratio is currently 172.73%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank reduced their price objective on shares of Plains All American Pipeline from $19.00 to $18.00 and set a "sector outperform" rating for the company in a research note on Thursday. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the stock a "neutral" rating in a research note on Friday, August 8th. Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Raymond James Financial restated a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. set a $20.00 price objective on shares of Plains All American Pipeline in a research note on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.67.

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.