Morningstar Investment Management LLC Lowers Position in Plains All American Pipeline, L.P. (NYSE:PAA)

Key Points

• Morningstar Investment Management LLC has cut its stake in Plains All American Pipeline by 47.5%, now holding 49,306 shares valued at approximately $986,000.
• Despite the reduction from Morningstar, other institutional investors have increased their holdings, with Invesco Ltd. boosting its position by 4.6% in the fourth quarter.
• Analysts have a consensus rating of "Hold" on the stock, with an average target price of $20.75, while the company recently reported earnings that missed expectations.

Morningstar Investment Management LLC lessened its stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 47.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,306 shares of the pipeline company's stock after selling 44,558 shares during the quarter. Morningstar Investment Management LLC's holdings in Plains All American Pipeline were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

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

Plains All American Pipeline Trading Down 1.3%

NYSE:PAA traded down $0.25 during midday trading on Friday, reaching $18.01. 1,591,614 shares of the stock traded hands, compared to its average volume of 3,605,910. 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, 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 $12.66 billion, a P/E ratio of 24.66 and a beta of 0.68. The company has a fifty day moving average of $18.05 and a 200 day moving average of $18.59.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the previous year, the company posted $0.41 EPS. The business's revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline, L.P. will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's payout ratio is currently 163.44%.

Analyst Upgrades and Downgrades

PAA has been the topic of several research analyst reports. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Scotiabank reduced their target price on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Citigroup cut their price objective on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.