Plains All American Pipeline, L.P. $PAA Shares Sold by RR Advisors LLC

Key Points

• RR Advisors LLC has reduced its holdings in Plains All American Pipeline by 10.7%, owning 159,000 shares after selling 19,000 shares in the first quarter.
• The company reported earnings of $0.36 per share, exceeding analyst expectations and showing a net margin of 1.54% despite a 16.6% year-over-year revenue decline.
• Plains All American Pipeline declared a quarterly dividend of $0.38 per share, yielding 8.6%, but has a high dividend payout ratio of 172.73%.

RR Advisors LLC reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 10.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,000 shares of the pipeline company's stock after selling 19,000 shares during the period. Plains All American Pipeline accounts for about 0.8% of RR Advisors LLC's holdings, making the stock its 21st biggest position. RR Advisors LLC's holdings in Plains All American Pipeline were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of 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 worth $879,000 after purchasing an additional 10,412 shares during the last quarter. Oppenheimer Asset Management Inc. raised 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 worth $1,127,000 after purchasing an additional 2,891 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of 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 purchasing an additional 6,874 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $218,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of 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 worth $1,521,000 after purchasing an additional 28,916 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PAA shares. Zacks Research upgraded Plains All American Pipeline to a "hold" rating in a report on Monday, August 11th. Citigroup set a $18.00 price target on Plains All American Pipeline and gave the company a "neutral" rating in a report on Friday, August 8th. Barclays reiterated an "underweight" rating on shares of Plains All American Pipeline in a report on Friday, August 8th. Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.67.

Plains All American Pipeline Stock Down 0.2%

Plains All American Pipeline stock traded down $0.03 during trading on Monday, reaching $17.49. 2,613,295 shares of the company's stock were exchanged, compared to its average volume of 3,589,155. The company's 50-day moving average is $18.25 and its two-hundred day moving average is $18.36. 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 52-week low of $15.57 and a 52-week high of $21.00. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 23.96 and a beta of 0.73.

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, beating analysts' consensus estimates 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%. The company's quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. On average, analysts predict 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 business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is 172.73%.

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.