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

Key Points

• Eagle Global Advisors LLC has reduced its stake in Plains All American Pipeline by 8.5%, holding approximately 3,876,656 shares valued at $71 million as of the latest SEC filing.
• The company announced a quarterly dividend of $0.38 per share, equating to an annualized dividend yield of 8.6%, although it has a high dividend payout ratio of 172.73%.
• Plains All American Pipeline's latest earnings report revealed an EPS of $0.36, exceeding analysts' expectations of $0.33, despite a year-over-year revenue decline of 16.6%.

Eagle Global Advisors LLC reduced its stake in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,876,656 shares of the pipeline company's stock after selling 361,593 shares during the quarter. Plains All American Pipeline accounts for approximately 2.9% of Eagle Global Advisors LLC's holdings, making the stock its 9th biggest position. Eagle Global Advisors LLC owned 0.55% of Plains All American Pipeline worth $71,020,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. raised its stake in Plains All American Pipeline by 6.4% during the 1st quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company's stock valued at $591,988,000 after purchasing an additional 1,771,452 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Plains All American Pipeline by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock valued at $422,894,000 after purchasing an additional 1,524,185 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Plains All American Pipeline by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company's stock valued at $329,279,000 after purchasing an additional 1,166,369 shares during the last quarter. BROOKFIELD Corp ON raised its stake in Plains All American Pipeline by 50.2% during the 1st quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company's stock valued at $113,967,000 after purchasing an additional 1,904,261 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in shares of Plains All American Pipeline by 9.6% in the 1st quarter. Miller Howard Investments Inc. NY now owns 2,861,430 shares of the pipeline company's stock valued at $57,229,000 after buying an additional 250,558 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Trading Up 0.2%

Shares of Plains All American Pipeline stock opened at $17.72 on Friday. The stock has a market capitalization of $12.46 billion, a P/E ratio of 24.27 and a beta of 0.80. 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 50-day simple moving average of $17.75 and a 200 day simple moving average of $17.90. Plains All American Pipeline, L.P. has a 12-month low of $15.57 and a 12-month high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping 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 firm's quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 earnings per share. Research analysts expect 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 company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.38 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.6%. Plains All American Pipeline's dividend payout ratio (DPR) is 172.73%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PAA shares. Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Morgan Stanley dropped their price objective on shares of Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Wolfe Research restated a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Scotiabank restated an "outperform" rating on shares of Plains All American Pipeline in a research note on Monday, September 8th. Finally, Barclays restated an "underweight" rating 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 Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.58.

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.

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