Plains All American Pipeline, L.P. (NYSE:PAA) Position Lowered by ING Groep NV

Key Points

• ING Groep NV reduced its holdings in Plains All American Pipeline by 17.3%, selling 673,937 shares, resulting in ownership of approximately 3.2 million shares valued at $64.4 million.
• Plains All American Pipeline reported a Q1 EPS of $0.39, missing analysts' estimates of $0.45, while its revenue grew by only 0.1% from the previous year.
• The company announced a quarterly dividend of $0.38 per share, which translates to an annualized yield of 8.4%, although its dividend payout ratio stands high at 163.44%.

ING Groep NV lessened its holdings in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 17.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,218,700 shares of the pipeline company's stock after selling 673,937 shares during the quarter. ING Groep NV owned 0.46% of Plains All American Pipeline worth $64,358,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Plains All American Pipeline by 31.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock valued at $879,000 after purchasing an additional 10,412 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Plains All American Pipeline by 5.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after purchasing an additional 2,891 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Plains All American Pipeline by 32.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock worth $566,000 after acquiring an additional 6,874 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter worth approximately $218,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Plains All American Pipeline by 61.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock valued at $1,521,000 after acquiring an additional 28,916 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

Shares of PAA traded up $0.10 during midday trading on Wednesday, reaching $17.86. 2,312,579 shares of the stock were exchanged, compared to its average volume of 3,598,236. Plains All American Pipeline, L.P. has a twelve month low of $15.57 and a twelve month high of $21.00. The business's 50-day moving average price is $18.11 and its 200 day moving average price is $18.54. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 24.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

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 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The company's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. On average, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is 163.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PAA shares. Barclays restated an "underweight" rating and issued a $18.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $20.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 16th. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Wells Fargo & Company lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.75.

Plains All American Pipeline 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.