Plains All American Pipeline Lp $PAA Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC reduced its stake in Plains All American Pipeline by 11.8%, selling 486,115 shares and leaving it with 3,631,255 shares (about 0.51% of the company) valued at $65.22 million, making PAA its seventh-largest holding.
• Plains missed quarterly expectations, reporting $0.17 EPS versus a $0.50 consensus and a 12.2% year-over-year revenue decline, while sell-side analysts project about $1.78 EPS for the fiscal year.
• The company declared a quarterly dividend of $0.4175 (annualized $1.67) for a yield of roughly 7.9% with an ex-dividend date of May 1, though the payout ratio is about 100.6%.

Eagle Global Advisors LLC lessened its holdings in Plains All American Pipeline Lp (NASDAQ:PAA - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,631,255 shares of the company's stock after selling 486,115 shares during the quarter. Plains All American Pipeline makes up about 2.4% of Eagle Global Advisors LLC's investment portfolio, making the stock its 7th largest holding. Eagle Global Advisors LLC owned about 0.51% of Plains All American Pipeline worth $65,217,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in Plains All American Pipeline by 17.8% in the third quarter. Citigroup Inc. now owns 535,200 shares of the company's stock valued at $9,131,000 after buying an additional 80,788 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Plains All American Pipeline by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company's stock valued at $122,814,000 after acquiring an additional 967,059 shares during the period. Texas Yale Capital Corp. boosted its holdings in shares of Plains All American Pipeline by 10.4% during the third quarter. Texas Yale Capital Corp. now owns 637,343 shares of the company's stock valued at $10,873,000 after acquiring an additional 60,000 shares during the period. Inspire Investing LLC acquired a new position in shares of Plains All American Pipeline during the third quarter valued at $1,045,000. Finally, PFG Investments LLC boosted its holdings in shares of Plains All American Pipeline by 91.8% during the third quarter. PFG Investments LLC now owns 130,443 shares of the company's stock valued at $2,225,000 after acquiring an additional 62,446 shares during the period. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Stock Up 0.5%

Shares of NASDAQ PAA opened at $21.06 on Wednesday. Plains All American Pipeline Lp has a fifty-two week low of $15.69 and a fifty-two week high of $22.79. The company's 50-day moving average is $21.40. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $14.86 billion, a PE ratio of 12.69, a P/E/G ratio of 2.48 and a beta of 0.53.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm's revenue was down 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Plains All American Pipeline Lp will post 1.78 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, May 1st. Plains All American Pipeline's payout ratio is currently 100.60%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Plains All American Pipeline from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. Barclays boosted their price target on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, April 10th. Bank of America downgraded shares of Plains All American Pipeline from a "neutral" rating to an "underperform" rating and set a $19.00 price target for the company. in a report on Wednesday, January 28th. Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 23rd. Finally, Scotiabank reissued an "outperform" rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $22.08.

About Plains All American Pipeline

Plains All American Pipeline NASDAQ: PAA is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.

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