Kovitz Investment Group Partners LLC Sells 41,899 Shares of Plains All American Pipeline, L.P. $PAA

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in Plains All American Pipeline by 6.0%, now holding approximately 655,363 shares valued at $13.1 million.
• Plains All American Pipeline reported an EPS of $0.36 for the latest quarter, exceeding analysts' expectations of $0.33, despite a 16.6% decline in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $0.38, translating to an annual yield of 8.6%, although its dividend payout ratio stands at 172.73%.

Kovitz Investment Group Partners LLC decreased its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 655,363 shares of the pipeline company's stock after selling 41,899 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.09% of Plains All American Pipeline worth $13,107,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in Plains All American Pipeline by 107.0% in the 1st 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 last quarter. Capital Advisory Group Advisory Services LLC raised its position in Plains All American Pipeline by 2.5% in the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 28,450 shares of the pipeline company's stock valued at $569,000 after purchasing an additional 685 shares during the last quarter. Prossimo Advisors LLC raised its position in Plains All American Pipeline by 6.6% in the 1st quarter. Prossimo Advisors LLC now owns 12,343 shares of the pipeline company's stock valued at $247,000 after purchasing an additional 764 shares during the last quarter. Financial Sense Advisors Inc. increased its stake in shares of Plains All American Pipeline by 4.8% in the 1st quarter. Financial Sense Advisors Inc. now owns 16,793 shares of the pipeline company's stock valued at $336,000 after buying an additional 766 shares during the period. Finally, Clarus Group Inc. increased its stake in shares of Plains All American Pipeline by 0.9% in the 1st quarter. Clarus Group Inc. now owns 92,330 shares of the pipeline company's stock valued at $1,847,000 after buying an additional 803 shares during the period. Institutional investors own 41.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. 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 note on Friday, May 16th. UBS Group set a $25.00 target price on Plains All American Pipeline and gave the company a "buy" rating in a research note on Tuesday, July 15th. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Citigroup set a $18.00 target price on Plains All American Pipeline and gave the company a "neutral" rating in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.67.

Plains All American Pipeline Trading Down 0.2%

NYSE:PAA traded down $0.03 on Monday, reaching $17.49. The company's stock had a trading volume of 2,613,295 shares, compared to its average volume of 3,589,155. 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. The firm has a market cap of $12.30 billion, a PE ratio of 23.96 and a beta of 0.73. The business's 50-day moving average price is $18.25 and its two-hundred day moving average price is $18.37.

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 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%. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm's revenue was down 16.6% compared to the same quarter last year. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced 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. This represents a $1.52 annualized dividend and a yield of 8.7%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is presently 172.73%.

About Plains All American Pipeline

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.